CIC Insurance Group PLC records a 70% increase in profit after tax to Ksh 1.09 billion for the six-month period ending 30th June 2026.
Profit Before Tax rose by 30% to shs1.56 billion, buoyed by investment return, which grew by 44% to shs3.96 billion, with the asset management unit generating shs1.04 billion in revenue from asset management services compared to shs829 million in June 2025, reflecting growing investor confidence and expanding Assets Under Management (AUM). Insurance revenue rose by nearly 18% to shs16.34 billion.
The improved performance marks a positive recovery from the results reported in a similar period last year and reflects the progress made in strengthening the Group’s earnings. Improved investment returns and increased revenue from asset management services have supported this performance and strengthened our outlook.
The Group recorded shs962 million in revenue from land sales. This yielded a gross margin of shs341million after cost of sales, supporting balance sheet optimisation.
As the Group executes its 2026-2030 strategy, it remains focused on creating sustainable shareholder value through disciplined investment, customer-centric innovation and digital transformation, while diversifying product portfolio and strengthening collaboration across its subsidiaries.
The announcement comes weeks after the Group launched its microinsurance business (CIC IMPACT), expected to provide insurance services to more underserved Kenyans in the informal sector.
Key Financial Highlights:
- H1 2026 Net profits up 70.3% to shs1.09 billion from Kshs 638.5 million in June 2025
- Profit Before Tax up 30.2% to shs1.56 billion compared to shs1.2 billion in 2025
- Insurance revenue rose 17.8% to Kshs 16.3 billion from Kshs 13.87 billion in June 2025
- Investment return up by 44% from shs2.75 billion in 2025 to Kshs 3.96 billion in 2026
- Earnings per share increased to shs June 2026, up from 0.23 in June 2025.
- Total assets rose to shs81.68 billion in June 2026 from shs 73.75 billion in June 2025.
Kenya Subsidiaries
General Insurance Business
The General Insurance business delivered strong topline growth, with insurance revenue increasing by 18% to KShs 10.7 billion, driven by GWP growth under motor and medical classes.
- Profit Before Tax stood at KShs 734 million, reflecting a 33% growth YOY attributed to strong topline growth which positively impacted insurance revenue growth which significantly outpaced the growth on claim cost.
- The business continued to strengthen its balance sheet, with total assets growing by 12% YTD to Shs23.95 billion, driven by growth in investment on financial assets attributed to new placements in the investment portfolio.
CIC Life Assurance
The subsidiary demonstrated steady growth, with insurance revenue increasing by 20% to KShs 4 billion, supported by continued demand for life products.
- Profit Before Tax stood at Shs 190 million, reflecting increased claims experience during the year.
- The deposit administration increased by 14% YTD to Shs 21 billion, reinforcing our position in long-term savings solutions.
- In line with the above growth, total assets increased by 16% YTD to KShs 48 billion reflecting growth in insurance reserves.
CIC Asset Management
- CIC Asset Management continued to be a key growth driver for the Group, with assets under management increasing by 19% YOY to Shs211.7B, supported by a positive fund performance.
- Profit Before Tax increased by 9% YOY to Shs526M, driven by higher fund management fees in line with the growth in AUM.
- The fixed income fund has grown significantly by 61% YTD to shs29B, driven by attractive returns.
- The business remains well-positioned to capitalise on increasing demand for investment solutions, supported by digital distribution channels and product innovation.
CIC Asset Management unveils upgraded CIC Invest App
Regional Subsidiaries
The performance of regional subsidiaries remained an important contributor to the Group’s topline growth during the year.
- CIC Malawi recorded 5% growth in insurance revenue to KShs 595 million in H1 2026.
- CIC South Sudan recorded 71% growth in insurance revenue to KShs 563 million in H1 2026.
- CIC Uganda recorded a 31% decline in insurance revenue to KShs 426 million in H1 2026
The Group continues to invest in strengthening regional operations. All regional subsidiaries are well capitalised.
Sustainability and Impact
CIC Group continued to integrate sustainability into its operations, focusing on:
- Expanding financial inclusion by providing insurance coverage to more than 2 million lives
- Strengthening communities through the training of 6,590 cooperative leaders and a KSh 48 million investment in education
- Reducing environmental impact through a 4.8% decline in electricity consumption and the avoidance of over 861 tonnes of carbon emissions
- Supporting climate resilience through the payment of Shs80 million in agricultural insurance claims
Strategic Outlook
As the Group executes its 2026 -2030 strategy, it will build on the progress achieved during the first half of 2026 to drive sustainable growth and create long-term value for shareholders, customers and other stakeholders.
Looking ahead, we will focus on:
- Advancing digital transformation, product innovation and diversification.
- Expanding financial inclusion through the Microinsurance Subsidiary.
- Strengthening performance and collaboration across subsidiaries and regional markets.
- Strengthening employee engagement to enhance stakeholder value.
- Deepening sustainability and shared value commitments.
Conclusion
We are pleased with the growth trajectory of our business and remain confident in our ability to scale even greater heights. We are committed to delivering our 2026-2030 strategy and forging strong business partnerships with stakeholders across our markets, ensuring alignment with our business goals.
