{"id":6251,"date":"2026-09-25T09:35:13","date_gmt":"2026-09-25T09:35:13","guid":{"rendered":"https:\/\/livenation254.com\/?p=6251"},"modified":"2026-09-25T09:35:13","modified_gmt":"2026-09-25T09:35:13","slug":"old-mutual-revamps-savings-products-as-kenyans-seek-stronger-path-to-long-term-financial-security-press-release","status":"publish","type":"post","link":"https:\/\/livenation254.com\/?p=6251","title":{"rendered":"Old Mutual Revamps Savings Products as Kenyans Seek Stronger Path to Long-Term Financial Security Press Release"},"content":{"rendered":"

Old Mutual Revamps Savings Products as Kenyans Seek Stronger Path to Long-Term Financial Security
\nPress Release<\/p><\/blockquote>\n

By Jeff Kizzilah Digital Editor <\/strong><\/em><\/pre>\n
Old Mutual Life Assurance Kenya (OMLAK) has revamped its life and savings solutions as it seeks to help Kenyan households strengthen long-term savings, education planning and financial security.<\/p>\n
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The changes come amid rising access to formal financial services in Kenya, even as many households continue to face challenges in maintaining consistent savings for long-term goals.<\/p>\n
According to the 2024 FinAccess Household Survey by the Central Bank of Kenya, the Kenya National Bureau of Statistics (KNBS) and FSD Kenya, formal financial access increased to 84.8% in 2024, up from 83.7% in 2021.<\/p>\n
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\nHowever, access does not always translate into sustained saving. Old Mutual\u2019s 2025 Financial Wellness Monitor found that while 91% of working Kenyans surveyed have a savings goal, 40% reported dipping into their savings to meet everyday expenses.<\/p>\n
The findings highlight the need for structured savings solutions that can help households remain focused on defined financial goals, including education, home ownership, family protection and retirement.<\/p>\n
Old Mutual Life Assurance Kenya Managing Director Martin Karenju said the findings demonstrate the need for financial solutions that address both immediate household pressures and long-term ambitions.<\/p>\n
\u201cKenyans 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\u2019s needs with tomorrow\u2019s ambitions,\u201d said Karenju.<\/p>\n
Under the revamped propositions, Old Mutual has introduced a number of improvements aimed at strengthening the value of its existing life and savings solutions.<\/p>\n
The changes include longer investment horizons of up to 20 years in selected propositions, revised charges and surrender terms, higher guaranteed maturity values, and adjustments to benefits supporting longer-term education planning.
\nOld Mutual Group CEO Arthur Oginga said the changes reflect a broader shift towards designing financial solutions around customers’ life goals rather than treating each financial need as a separate product conversation.<\/p>\n
\u201cA customer does not necessarily wake up thinking about an insurance or savings product. They are thinking about paying for their child\u2019s education, buying a home, protecting their family or having enough money when they retire. We need to begin with that goal and then help them identify the solution that can get them there,\u201d said Oginga.<\/p>\n
The approach forms part of Old Mutual\u2019s broader strategy to support personal growth and financial security by providing solutions designed to remain relevant as customers progress through different stages of life.<\/p>\n
The company says the revamped propositions are intended to help customers build greater financial resilience while working towards clearly defined long-term goals.<\/p>\n","protected":false},"excerpt":{"rendered":"
Old Mutual Revamps Savings Products as Kenyans Seek Stronger Path to Long-Term Financial Security Press Release By Jeff Kizzilah Digital Editor Old Mutual Life Assurance… <\/p>\n","protected":false},"author":2,"featured_media":6252,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6251","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-county-mews"],"_links":{"self":[{"href":"https:\/\/livenation254.com\/index.php?rest_route=\/wp\/v2\/posts\/6251","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/livenation254.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/livenation254.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/livenation254.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/livenation254.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6251"}],"version-history":[{"count":1,"href":"https:\/\/livenation254.com\/index.php?rest_route=\/wp\/v2\/posts\/6251\/revisions"}],"predecessor-version":[{"id":6254,"href":"https:\/\/livenation254.com\/index.php?rest_route=\/wp\/v2\/posts\/6251\/revisions\/6254"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/livenation254.com\/index.php?rest_route=\/wp\/v2\/media\/6252"}],"wp:attachment":[{"href":"https:\/\/livenation254.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6251"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/livenation254.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6251"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/livenation254.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6251"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}