CIC Insurance Group H1 2026 net profit soars 70% to Ksh.1.09 billion

Profit Before Tax rose by 30% to Ksh.1.56 billion, buoyed by investment returns, which grew by 44% to Ksh.3.96 billion, with the asset management unit generating Ksh.1.04 billion in revenue from asset management services compared to Ksh.829 million in June 2025, reflecting growing investor confidence and expanding Assets Under Management (AUM). Insurance revenue rose by nearly 18% to Ksh 16.34 billion.

The improved performance marks a positive recovery from the results reported for 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 Ksh.962 million in revenue from land sales. This yielded a gross margin of Ksh.341million 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 its 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 Ksh.1.09 billion from Ksh.638.5 million in June 2025.

Profit Before Tax up 30.2% to Ksh.1.56 billion compared to Ksh.1.2 billion in 2025

Insurance revenue rose 17.8% to Ksh.16.3 billion from Ksh.13.87 billion in June 2025

Investment return up by 44% from Ksh.2.75 billion in 2025 to Ksh.3.96 billion in 2026

Earnings per share increased to Ksh.0.38 in June 2026, up from Ksh.0.23 in June 2025.

Total assets rose to Ksh.81.68 billion in June 2026 from Ksh.73.75 billion in June 2025.

The General Insurance business delivered strong topline growth, with insurance revenue increasing by 18% to Ksh.10.7 billion, driven by GWP growth under motor and medical classes.

Profit Before Tax stood at Ksh.734 million, reflecting a 33% growth YOY attributed to strong topline growth which positively impacted the 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 Ksh.23.95 billion, driven by growth in investment on financial assets attributed to new placement to the investment portfolio.

CIC Life Assurance

The subsidiary demonstrated steady growth, with insurance revenue increasing by 20% to Ksh.4 billion, supported by continued demand for life products.

Profit Before Tax stood at Ksh.190 million, reflecting increased claims experience during the year.

The deposit administration increased by 14% YTD to Ksh.21 billion, reinforcing our position in long-term savings solutions.

In line with the above growth, total assets increased by 16% YTD to Ksh.48 billion, reflecting growth in insurance reserves.

CIC Asset Management continued to be a key growth driver for the Group, with assets under management increasing by 19% YOY to Ksh.211.7B, supported by a positive fund performance.

Profit Before Tax increased by 9% YOY to Ksh.526M, driven by higher fund management fees in line with the growth in AUM.

The fixed income fund has grown significantly by 61% YTD to Ksh.29B, 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.

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 Ksh.595 million in H1 2026. CIC South Sudan recorded 71% growth in insurance revenue to Ksh.563 million in H1 2026. CIC Uganda recorded a 31% decline in insurance revenue to Ksh.426 million in H1 2026