CIC H1 Profits Down 10% as Investments, Asset Management Cushion Insurance Cost
CIC Insurance Group posted a 10% drop in H1 profit to 638 Mn, cushioned by 121% investment gains and 37% growth in asset management income...
✨ Key Highlights
CIC Insurance Group reported a 10% decline in half-year profit after tax to KSh 638.5 Mn, despite growth in insurance revenue, as increased insurance costs were largely cushioned by strong investment and asset management income.
- Profit after tax fell to KSh 638.5 Mn, down 10% year-on-year, while total assets expanded 13% to KSh 70.1 Bn in the first half of 2025.
- CIC’s insurance revenue grew by 8.4% to KSh 13.87 Bn, but insurance service results plunged 88% to KSh 128.2 Mn due to higher claims and underwriting costs.
- Net investment result surged 121% to KSh 1.51 Bn and asset management income increased 37% to KSh 829.33 Mn, offsetting the drag from insurance profitability.
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Kenyan Companies Report Mixed Half-Year Financial Results for Period Ending June 2025 - August 2025
Several Kenyan companies announced financial results for the half-year ending in June 2025. Kenya Re announced a 50% profit growth to KSh 1.58 billion, driven by higher investment income and a 97% reduction in foreign exchange losses. M Oriental Bank reported a 19.2% rise in profit to KSh 93.1 million and will hold an EGM to propose issuing new shares to address capital requirements. Conversely, CIC Insurance Group reported a 10% decline in half-year profit to KSh 638.5 million, which was cushioned by strong investment income. Other firms narrowed their losses, with Express Kenya PLC reducing its net loss to KSh 42.9 million and Flame Tree Group Holdings narrowing its losses to KSh 76 million. Express Kenya is also pivoting to real estate through a KSh 13 billion diversification plan to counter ongoing financial pressures.
