More Kenyans are trusting Equity Life Assurance with their retirement savings, and the numbers show why.
Two schemes sponsored by the insurer delivered double digit returns above the industry average in 2025, pushing their combined assets under management past KSh 900 million.
The results, announced at the Annual General Meetings of the Equity Income Drawdown Fund and the Equity Individual Savings and Retirement Plan, point to growing confidence in structured retirement products at a time when more Kenyans are looking beyond a monthly salary for financial security in old age.
Strong Returns Across Both Schemes
Equity Life Assurance Managing Director and Principal Officer Angela Okinda said the results reflect disciplined investment management and rising trust among members. She called the growth in assets and membership a clear signal that Kenyans increasingly see the Plan as a serious, credible vehicle for retirement planning.
The Equity Individual Savings and Retirement Plan posted the stronger of the two performances. Assets under management climbed from Sh313 million at the end of 2024 to Sh518 million by December 2025, then jumped again to Sh796 million by June 2026, a rise of more than 154 percent in eighteen months. The plan closed 2025 with 408 members and delivered a net return of 13.6 percent for the year, well ahead of the industry average of 10.2 percent.
The Equity Income Drawdown Fund kept pace with its own steady climb. Assets grew from Sh44 million at the end of 2024 to Sh104 million by December 2025, then to Sh109 million by June 2026, up 148 percent over the same period. The fund returned 13.8 percent in 2025, also beating the industry benchmark.
Okinda linked the drawdown fund’s growth to Equity Group’s wider push to extend financial inclusion past a customer’s working years. She said the fund and the savings plan exist to give members sustainable income and financial security once formal employment ends.
Regulator Confirms Strong Governance
Retirement Benefits Authority representative Peter Mugambi said both schemes have delivered consistent performance since launch, earning some of the strongest ratings the regulator awards. The RBA rates schemes on a scale of one to five, where five marks the poorest performers and a rating of two or below places a scheme among the best. Mugambi noted that both Equity schemes have held ratings below 1.5 throughout, a sign he linked to strong governance and management discipline.
Trustees representing both schemes echoed that confidence. Equity Income Drawdown Fund Corporate Trustee Anthony Odhiambo credited the fund’s resilience to close collaboration between the sponsor, service providers, and members through a year marked by economic and geopolitical uncertainty. Individual Savings and Retirement Plan Corporate Trustee Anthony Kilavi struck a similarly upbeat tone, pointing to a 2025 return of 13.6 percent against the industry’s 10.2 percent and saying favourable conditions this year give the scheme confidence it can keep delivering strong double digit returns.
The Wider Push Behind Equity’s Insurance Growth
The retirement schemes’ performance sits inside a bigger growth story at Equity Group. Group wide, Equity Life Assurance posted a profit before tax of KSh 1.77 billion for 2025 and now serves 6.9 million customers, having issued 19.2 million policies since it began operating. Across the group’s insurance arm, gross written premiums rose 75 percent to KSh 9.17 billion in 2025, insurance revenue climbed 150 percent to KSh 3.57 billion, and profit before tax for the insurance business grew 36 percent to KSh 2.0 billion.
That expansion mirrors the momentum at Equity Group overall, which reported record results for 2025, with profit after tax rising 55 percent to KSh 75.5 billion. Group executives have pointed to the integration of its life, general, and health insurance businesses into one structure as a key driver of the insurance unit’s growth, with the retirement schemes forming part of that broader strategy to deepen customer relationships beyond traditional banking.
| Scheme | 2025 net return | Industry average | AUM Dec 2024 | AUM Dec 2025 | AUM June 2026 | Growth since Dec 2024 |
|---|---|---|---|---|---|---|
| Equity Individual Savings and Retirement Plan | 13.6% | 10.2% | Sh313 million | Sh518 million | Sh796 million | 154% |
| Equity Income Drawdown Fund | 13.8% | 10.2% | Sh44 million | Sh104 million | Sh109 million | 148% |
| Equity Group insurance metrics | 2025 figure | Change |
|---|---|---|
| Equity Life Assurance profit before tax | KSh 1.77 billion | — |
| Equity Life Assurance customers | 6.9 million | — |
| Gross written premiums, Insurance Group | KSh 9.17 billion | Up 75% |
| Insurance revenue | KSh 3.57 billion | Up 150% |
| Insurance profit before tax | KSh 2.0 billion | Up 36% |
A Signal For Kenya’s Retirement Savings Market
With life expectancy rising and inflation squeezing household budgets, the case for structured retirement savings keeps getting stronger. By posting returns above the industry average while growing assets and membership at pace, Equity’s two schemes are giving Kenyans another reason to plan for life after formal employment through professionally managed vehicles rather than informal savings alone.
