CIC Insurance reports growth in microinsurance uptake as 2024 profits jump 57% #AD

Group Managing Director and CEO, Mr. Patrick Nyaga, emphasised the significance of the milestone, saying, “Our micro insurance offering is designed to push the frontiers of inclusion and accessibility in insurance coverage, driving resilience and dignity. The growth recorded reflects trust by our customers and a strong signal that financial protection is possible at every level and scale.”

Contributing to this growth was CoopCare, an affordable health cover for cooperative members, which earned global recognition in 2024 through the UNDP-ICMIF Insurance Innovation Challenge Fund, positioning CIC Insurance Group as a leader in innovation and social impact.

CIC Group Chairman Dr. Nelson Kuria said the company has an ongoing commitment to sustainable, inclusive insurance.

“As a leading cooperative insurer, we are turning our values of democracy, equity and social responsibility into action. In 2025 and beyond, we will strengthen transparent governance, deepen partnerships, support climate action, and deliver sustainable, inclusive insurance that advances ESG and 2030 sustainability goals, extending protection to millions more,” said Kuria.

Other highlights from the 2024 Sustainability Report include:

Other key highlights of the 2024 sustainability report were:

● The Group launched its six-year Sustainability Strategy (2025-2030) to guide ESG integration across all functions and promote long-term value and accountability.

The Group registered a 175% increase in the number of individuals covered and a 236% rise in the uptake of premiums in 2024 for Abwenzi, a health microinsurance product from CIC Life Malawi.

● An increase in female representation on the Board of Management from 18% to 29% in 2024, reflecting the Group's continued commitment to gender equality in leadership.

● In 2024, CIC’s agriculture insurance protected over 56,700 farmers across Kenya, Uganda, and Malawi, paying claims to over 2,000 farmers, reinforcing rural resilience and food security.

● Over 5,000 cooperative board members and 50,000 sector members were trained, strengthening their capacity to build transparent, efficient, and member-focused institutions that drive grassroots development.

● Emphasis on capacity building by investing Ksh.40M on staff development.

● CIC Group partnered and signed on to the UN Women's Principles (WEPs) in 2024, advancing its diversity, equity and inclusion (DEI) agenda across the organisational levels.