CIC Group chief executive Patrick Nyaga. Regional insurer CIC Insurance Group Plc has bounced back to profitability. PHOTO | COURTESY Regional insurer CIC Insurance Group Plc has bounced back to profitability laying the groundwork for ending a two-year dividend drought for shareholders. The turnaround is also expected to bolster the firm’s stock on Nairobi Securities […]
NAIROBI, Kenya, Aug 12- CIC Insurance Group has reported a profit before tax of Sh337 Million for its half year ending 30 th June 2021 compared to a loss before tax of Sh287 Million it recorded in a similar period last year. The group through a statement said improved performance was boosted by resilient growth […]
CIC Insurance Group #ticker:CIC posted a Sh259.5 million net profit in the half year ended June, reversing a net loss of Sh335.5 million the year before. The return to profitability was helped by improved performance in the underwriting business and higher investment income. Investment and other income, including positive currency movements at its South Sudan […]
CIC Insurance Group Patrick Nyaga (left) having a word with Co-op Bank Chief Executive Gideon Muriuki at a past event. FILE PHOTO | NMG CIC Insurance Group has tied the repayment of a Sh3.4 billion loan from Co-op Bank to sale of 200 acres of land in Kiambu County. The loan was part of the […]
Regional insurer CIC Insurance Group Plc has bounced back to profitability laying the groundwork for ending a two-year dividend drought for shareholders. The turnaround is also expected to bolster the firm’s stock on Nairobi Securities Exchange that is trading as low as Ksh3 ($0.02) per share against a par value of Ksh1 ($0.01) per share. […]
Nairobi Securities Exchange(NSE) recorded Kapchorua Tea Company as the top price gainer when trading ended this Wednesday. Kapchorua share price was up 10% to close at KSh 93.50 per share over the previous closing price of KSh 85.00 on Tuesday 13th, 2021. KAPC began 2021 with a share price of KSh 78.00 and has since […]
CiC Insurance Group has announced key changes to the Board of Directors which the insurer says are intended to strengthen the overall Governance and Strategic leadership of the institution. The Board has appointed Nelson Kuria as Chairman, following the retirement of James Magomere who has served as Chairman for 16 years. “Mr Kuria brings a […]
CIC Insurance Group chairman Nelson Kuria. FILE PHOTO | NMG South Africa-based Global Credit Ratings (GCR) has downgraded the credit profiles of CIC Insurance Group general and life units. GCR assigned CIC Life a financial strength rating of BBB (KE), from BBB+ (KE), citing a deterioration in the group’s credit profile with a negative outlook. […]
•The firm said the board change is part of its plan to strengthen the overall governance and strategic leadership of the institution. •The diversified insurance firm is among top three in the country according to Insurance Regulatory Authority (IRA). Nelson Kuria CIC Insurance Group has appointed former chief executive Nelson Kuria as the new chairman […]
Former CIC Insurance Group CEO Nelson Kuria. FILE PHOTO | NMG CIC Insurance Group has tapped its former chief executive Nelson Kuria as the new chairman in the latest board changes to strengthen the overall governance and strategic direction of the insurer. The group announced Friday morning that Mr Kuria, who retired from CIC as […]
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