Old Mutual Life Assurance Kenya has updated its life and savings offerings to help Kenyan households build stronger long‑term financial wellness. The announcement came from Nairobi on 25 September 2026, a time when many Kenyans have access to formal financial services yet struggle to keep savings steady for future goals. According to the 2024 FinAccess Household Survey, formal financial access reached 84.8 percent, up from 83.7 percent in 2021. Old Mutual’s 2025 Financial Wellness Monitor shows that 91 percent of working Kenyans have a savings goal, while 40 percent say they dip into those savings to cover everyday expenses.
The findings point to a growing need for structured savings solutions that help households stay focused on defined goals such as education, home ownership, family security, and other long‑term financial priorities. Old Mutual Life Assurance Kenya Managing Director Martin Karenju said the findings show the need for financial solutions that respond to both long‑term ambitions and immediate financial pressures facing households. He added, “Kenyans clearly want to save and build a better financial future, but they are doing so while managing significant pressures today. Our responsibility is to provide solutions that help customers balance today’s needs with tomorrow’s ambitions.”
The upgrades strengthen Old Mutual’s existing propositions in response to changing customer needs and market conditions. Improvements include longer investment horizons of up to 20 years, revised charges and surrender terms that favor the customer, higher guaranteed maturity values, and adjustments to benefits for longer‑term education planning. Old Mutual Group CEO Arthur Oginga said the changes show a broader shift towards understanding the financial goals customers seek, rather than treating each need as a separate product conversation.