CIC Half-Year Profit Hits Record KSh 1.09Bn as Investment Returns Surge 44%

CIC Insurance Group’s net profit surged 70.3% to a record KSh1.09 billion in the first half of 2026, extending a recovery that has lifted earnings from a KSh336 million loss in H1 2020.

• The jump came despite a 67.2% fall in the insurance service result to KSh42 million, with a 43.9% rise in investment return to KSh3.96 billion doing most of the heavy lifting as insurance revenue climbed 17.8% to KSh16.34 billion.
• Operating profit rose 20.6% to KSh1.85 billion, while profit before tax increased 30.2% to KSh1.56 billion.
• The group’s balance sheet expanded, with total assets reaching KSh81.68 billion at June, up 10.8% from December.

The divergence between underwriting and overall earnings was pronounced: insurance service expenses increased 18.9% to KSh15.21 billion and net expenses from reinsurance contracts held rose 15.1% to KSh1.10 billion. The net investment result, by contrast, increased 11.1% to KSh1.68 billion.

Asset management provided another source of growth. Revenue from asset management services rose 25.2% to KSh1.04 billion, extending gains in a business that generated KSh1.78 billion in revenue in 2025. CIC Asset Management ended last year with KSh195 billion in assets under management, up 28%, while its pretax profit rose 41% to KSh1.06 billion. Its standalone H1 2026 results show fund management fees rising 25.1% to KSh1.04 billion and profit after tax increasing 7.7% to KSh365 million.

Financial investment assets rose 15.1% to KSh63.65 billion, while borrowings declined 18.4% to KSh4.10 billion. Insurance contract liabilities increased to KSh60.97 billion from KSh52.68 billion.

CIC also generated KSh3.08 billion from operations during the half, while cash and cash equivalents closed at KSh14.40 billion. The stronger liquidity comes as the insurer monetises part of its property portfolio, including land disposals announced in 2026.