CIC Insurance Group posted a mixed set of half-year results, with investment and asset management income helping offset rising insurance costs.
- •Profit after tax fell 10% year-on-year to KSh 638.5 Mn, while total assets expanded 13% to KSh 70.1 Bn.
- •CIC’s insurance revenue grew 8.4% to KSh 13.87 Bn in the first half of 2025.
- •But insurance service results plunged 88% to KSh 128.2 Mn, reflecting higher claims and underwriting costs.
- •Both net investment result and asset management income jumped 121% and 37% year-on-year respectively offsetting the drag on insurance profitability.
| Metric | Jun 30 2025 | Jun 30 2024 | YoY % |
|---|---|---|---|
| Insurance revenue | 13.87 Bn | 12.80 Bn | +8.4% |
| Insurance service result | 128.23 Mn | 1.05 Bn | -87.7% |
| Net investment result | 1.51 Bn | 681.12 Mn | +121.4% |
| Asset management income | 829.33 Mn | 604.07 Mn | +37.3% |
| Operating profit | 1.53 Bn | 1.60 Bn | -4.4% |
| Profit before tax | 1.20 Bn | 1.28 Bn | -6.1% |
| Profit after tax | 638.46 Mn | 709.99 Mn | -10.1% |
| Earnings per share | 0.23 | 0.30 | -23.3% |
| Total assets* | 70.13 Bn | 61.94 Bn | +13.2% |
| Total equity* | 12.15 Bn | 11.01 Bn | +10.3% |
| Total liabilities* | 57.99 Bn | 50.92 Bn | +13.8% |
| Operating cash flow** | 2.30 Bn | 6.50 Bn | -64.5% |
| Cash & equivalents** | 11.84 Bn | 10.02 Bn | +18.2% |
* Balance sheet comparison vs Dec 31, 2024
** Cashflow comparison vs Dec 31, 2024
Balance Sheet and Capital Position
- •Total assets climbed to KSh 70.1 Bn, up from KSh 61.9 Bn in December 2024, with growth driven by financial investments and stronger cash holdings.
- •Equity rose 10% to KSh 12.1 Bn, supported by retained earnings and a bonus share issue worth KSh 261.5 Mn approved at the May 2025 AGM.
- •Total liabilities increased 14% to KSh 58.0 Bn, led by higher insurance contract obligations.
- •Operating cash flow dropped 65% to KSh 2.3 Bn, but a strong opening balance ensured cash reserves closed at 11.8 Bn, 18% higher than Dec.
- •The group’s capital strength was reinforced by steady asset growth and shareholder-approved bonus shares, even as cash generation weakened.
In FY 2024, the group nearly doubled its profit after tax to KSh 2.8 Bn on the back of record investment income.
In May 2025, it partnered with Women’s World Banking to co-develop women-focused insurance solutions, advancing inclusivity in financial services. The company also declared and paid a final dividend of KSh 0.13 per share earlier this year.
