CIC Insurance Group PLC has announced that it has reported net profit of Ksh. 638.5 million for the half year period ended 30th June 2025. This is a reduction from the Ksh 709.99 million net profit that the company reported during a similar period in 2024.
CIC Insurance Group H1 financial results showed its core insurance business grew by 8.6 per cent to Ksh. 13.87 billion from Ksh 12.80 billion in 2024. At the same time, net investment result increased to Ksh. 1.51 billion from Ksh. 681 million, a significant 121.4 percent rise compared to the same period in the previous year. Net investment income rose 106.8 percent to Ksh 1.5 billion from Ksh 681 million .
The positive net investment result is a key factor contributing to the overall performance of the Group’s investments and asset management activities and it contrasts with the same period in 2024, when the net investment income declined.
CIC Asset Management (CICAM), a subsidiary of the Group contributed Ksh. 338.9 million to the Group’s profit, realising higher growth where it reported a 127 percent rise in net investment income to stand at Ksh. 1.5 billion while asset management income increased by 37 per cent.
The release of the half year financial report comes hardly weeks after the company announced a notable growth in microinsurance policies from 11 per cent in 2023 to 18 per cent in 2024, underscoring an increasing trust and uptake of innovative microinsurance solutions among underserved segments.
The newly released 2024 CIC Sustainability Report, shows CoopCare, an affordable health cover for cooperative members, which earned global recognition in 2024 through the UNDP-ICMIF Insurance Innovation Challenge Fund, was a major contributor to the rise in microinsurance policies.