Liberty Kenya Holdings has secured AA+(KE) financial strength ratings for its two insurance subsidiaries, as combined insurance revenue climbed to Ksh 11.9 billion in 2025.
Global Credit Rating (GCR) affirmed the national-scale ratings of Liberty Life Assurance Kenya and The Heritage Insurance Company Kenya, assigning both insurers a Stable Outlook.
The ratings reflect strong risk-adjusted capitalisation, healthy liquidity and a diversified insurance portfolio spanning life and general insurance.
Liberty Kenya Holdings Group Chief Executive Kieran Godden says the ratings recognised the group’s efforts to strengthen its financial resilience and manage risks prudently.
“Our focus remains on maintaining a strong financial foundation, managing risk prudently and delivering sustainable growth across our life and general insurance operations,” says Godden.
He says the firm is keen on ensuring financial strength translated into confidence among customers, business partners and other stakeholders.
GCR said Liberty Kenya Holdings’ capitalisation and liquidity were expected to remain strong over the next 12 to 18 months, supporting the Stable Outlook on both insurers.
However, the rating agency flagged elevated claims, particularly in medical insurance, and lower investment income as pressures on earnings. The group’s insurance service result declined to Ksh 478 million in 2025 from Ksh 1.1 billion a year earlier.
GCR expects capital adequacy to remain above 2.5 times and liquidity coverage above 1.7 times over the next 12 to 18 months, signalling continued financial resilience amid pressure on insurance profitability.
Liberty Kenya’s combined insurance revenue increased from Ksh 10.9 billion in 2024, while its capital adequacy ratio stood at 2.6 times at the end of December 2025. Liquidity coverage improved to 2.2 times from 2.0 times a year earlier.