CIC expects net profit to drop 25pc to Sh2.14bn
CIC attributed its stronger 2024 performance to a Sh1 billion gain from the revaluation of its Kiambu land property. Kenya breaking news | Kenya news today |..
✨ Key Highlights
CIC Insurance Group has issued a profit warning, projecting a significant drop in net profit for the full year ending December 31, 2025.
- Projected net profit is Sh2.14 billion, a 25 percent decline from Sh2.85 billion recorded in the previous year.
- The dip is attributed to the non-recurrence of a large one-off gain from land revaluation in 2024 and elevated claims.
- Despite this projection, the Board expressed confidence in the Group's long-term strategy and capital strength.
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