CIC Insurance Group #ticker:CIC has posted 33.1 percent decline in net profit to Sh321.6 million for the year ending December 2019 on account of increased claims. This is a three-year low earnings for the Nairobi Securities Exchange-listed insurer that had posted a profit of Sh480.94 million in 2018. Total income grew marginally by three percent […]
Tag: XNAI_CIC
Former CIC CEO Tom Gitogo Sells His 11 Million Shares In The Company
Former CIC Insurance CEO Mr Tom Gitongo has sold his 11 million shares in the company worth Ksh23.6 million. According to reports by Business Daily , Gitongo sold his shares in August 2020, close to a year after he resigned in October 2019. When he resigned, Mr Gitongo was paid Ksh154.4 million, Ksh76.3 million being […]
CIC Insurance: 2020 Annual General Meeting
CIC Insurance will hold its 2020 Annual General Meeting on 29th September at 10.00am by electronic means.
Jubilee half year profit holds firm at Sh1.8bn
Jubilee Holdings Chairman Nizar Juma. FILE PHOTO | NMG Jubilee Holdings #ticker:JUB half-year net profit unchanged at Sh1.8 billion, defying a trend where insurers have posted losses or drop in profits in the wake of Covid-19. The regional underwriter said the stable performance was due to improved insurance underwriting results from all of its operations […]
CIC makes Sh336m loss in six months
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 made a Sh335.5 million net loss in the half year ended June, reversing a net profit of Sh20.9 million the year before. This came as investment income fell […]
Here Are The Top 5 Gainers, Losers And Movers On Thursday
The top five gainers of the day at the Nairobi Securities Exchange (NSE) on Wednesday were I & M Holdings, Barclays NewGold ETF, East African Breweries Limited, Britam Holdings, and Total Kenya. I & M Holdings gained 3.89 percent at the price of 46.75 shillings per share followed by Barclays NewGold ETF with a gain […]
Kenya: Insurers Won’t Pay All Covid Hospital Bills in About-Turn
Kenyan insurers have made an about-turn on paying Covid-19 bills in what has left hundreds of patients in hospitals high and dry. When Kenya announced its first case of coronavirus in March, the Insurance Regulatory Authority (IRA) said it had met with players in the industry and agreed to cover bills for patients despite the […]
Longhorn Publishers Ends Wednesday As Top Gainer At The NSE
The top gainer of the day at the Nairobi Securities Exchange (NSE) on Wednesday was Longhorn Publishers with 8.41 percent at the price of 4.90 shillings per share. Sanlam Kenya was the top second gainer of the day with 7.69 percent at the price of 14.00 shillings per share followed by Standard Group with 6.90 […]
Co-op Bank Acquires Jamii Bora Bank
Co-operative Bank Branch Along Kenyatta Avenue in Nairobi. Monday, October 21, 2019. The Co-operative Bank of Kenya on Wednesday, July 1, completed a move to expand its customer base after spending Ksh1 billion to acquire 90% of Jamii Bora Bank. In a statement to newsrooms, the bank disclosed that the deal was sealed during an […]
7,000 Youth to Benefit From Co-op Bank’s Ksh300M Partnership With Govt
Co-operative Bank Branch Along Kenyatta Avenue in Nairobi. Monday, October 21, 2019. The Co-operative Bank of Kenya, on Monday, July 6, partnered with the County Government of Laikipia in a Ksh300 million project . In a statement, the bank noted that the partnership was aimed at helping 7,000 entrepreneurs recover from the challenges of the […]