29:
165:
148:
283:. In Uganda, the Group aims to partner with the Uganda Cooperatives Savings and Credit Union to establish an insurance company in which CIC Insurance Group would own 40 per cent of the unit. CIC Group stated that in Malawi, it would start with a 70 per cent stake in a new subsidiary with the remaining being held by the Malawi Union of Savings and Credit Cooperative and the Farmers Union of Malawi (FUM).
252:
The Group's origins in Kenya date back to 1968 when it was a department within the Kenya
National Federation of Co-operatives. In 1978, the department was registered and licensed as Co-operative Insurance Services Limited, a composite insurance company to write all classes of business with its target
260:
In 1999, the company was changed to the Co-operative
Insurance Company of Kenya Limited (CIC) and later to CIC Insurance Group Limited in 2010. This change was in preparation for the de-merger of its life and general business operations.
381:
The shares of the CIC Insurance Group
Limited are listed on the NSE, where it trades under the symbol CIC. As of 31 December 2013, the five largest shareholders in the Group's stock are depicted in the table below:
855:
639:
556:
492:
CIC Insurance Group
Limited is governed by a twelve-person board of directors with Dr. Nelson Kuria serving as the Group Chairman and Patrick Nyaga as the Group CEO.
850:
698:
271:
In 2014, CIC Group announced its intention to expand to Uganda, South Sudan, Tanzania, Rwanda and Malawi. In South
Sudanese market, the Group plans to set up a
201:
that operates mainly in Kenya, Uganda, South Sudan and Malawi. CIC Group has a network of branches and operational subsidiaries spread across the 4 countries.
275:
operation in which it would hold 69 per cent of issued capital in a new local entity while the
Cooperative Bank of South Sudan (a subsidiary of the
860:
755:
268:(NSE) on 18 July 2012. This made it the 6th insurance company to be listed on the NSE and the 60th company to be listed on the NSE overall.
830:
780:
723:
287:
845:
646:
563:
671:
511:
613:
291:
290:
report released in
September 2014, CIC Insurance was ranked third in market share with 9% of the market behind
306:
The companies that comprise the CIC Insurance Group
Limited include, but are not limited, to the following:
363:
Limited – ??% Shareholding – Offering
Insurance. (??% Malawi Union of Savings and Credit Cooperatives)
265:
53:
501:
407:
372:
Takaful
Insurance of Africa Limited – Nairobi, Kenya - 24% Shareholding - Offering general insurance.
354:
276:
280:
279:) would take up the remaining 31 per cent. This expansion would be pegged on the resolution of the
244:. The Group expanded regionally to set its footprint in Uganda, South Sudan and Malawi in 2015.
815:
506:
333:
272:
787:
730:
254:
8:
337:
329:
71:
315:
233:
229:
198:
225:
57:
217:
322:
237:
209:
39:
839:
353:, South Sudan 69% Shareholding – Offering Insurance. (31% shareholding is by
328:
CIC Asset Management Limited – Nairobi, Kenya – 100% Shareholding – Offering
47:
321:
CIC Life Assurance Limited – Nairobi, Kenya – 100% Shareholding – Offering
241:
213:
204:
The group's headquarters are located in CIC Plaza, Mara Road, Upperhill in
314:, Kenya – 100% Shareholding – The flagship company of the group. Offering
67:
366:
360:
346:
124:
311:
205:
100:
28:
672:"CIC Insurance in Sh1.2bn regional expansion – Capital Business"
588:
531:
295:
820:
216:
insurance provider in Kenya with its subsidiaries involved in
221:
157:
106:
350:
341:
136:
614:"CIC Insurance shares debut on the NSE – Capital Business"
120:
825:
699:"CIC rises past ICEA to be third-largest insurance firm"
640:"Kenya's CIC Insurance Group ready to expand regionally"
301:
453:
Embu Farmers Savings & Credit Co-Operative Society
442:
Harambee Co-operative Savings & Credit Society ltd
856:
Companies listed on the Nairobi Securities Exchange
369:
Limited – Kampala, Uganda – ??% Shareholding
177:
420:Co-operative Bank Savings & Credit Society Ltd
431:K-Unity Savings & Credit Co-operative Society
851:Financial services companies established in 1968
837:
298:, who controlled 11.9% and 11.2% respectively.
557:"Kenya's CIC Group ready to expand regionally"
27:
756:"New REITs managers get regulator's nod"
696:
464:Others Local and International Investors
208:, Kenya. CIC Insurance Group is leading
724:"CIC 2013 Annual Report Page 69 and 70"
838:
16:African insurance and investment group
302:Subsidiaries and associated companies
861:Kenyan companies established in 1968
697:Herbling, David (21 December 2014).
512:List of Insurance companies in Kenya
135:Insurance, investment services and
13:
821:Cooperative Bank of Kenya Homepage
14:
872:
831:CIC Life Assurance Credit Ratings
809:
310:CIC General Insurance Limited –
264:The Group made its debut on the
164:
163:
147:
146:
773:
826:Insurance Regulatory Authority
748:
716:
690:
664:
632:
606:
581:
549:
524:
288:Insurance Regulatory Authority
199:insurance and investment group
1:
517:
487:
361:CIC Africa Insurance (Malawi)
846:Insurance companies of Kenya
816:CIC Insurance Group Homepage
376:
7:
495:
387:CIC Insurance Group Limited
367:CIC Africa Insurance Uganda
266:Nairobi Securities Exchange
191:CIC Insurance Group Limited
83:; 56 years ago
10:
877:
247:
193:, commonly referred to as
589:"Our History | CIC Group"
532:"Our History | CIC Group"
502:Cooperative Bank of Kenya
408:Cooperative Bank of Kenya
277:Cooperative Bank of Kenya
172:
155:
151:KES: 16.87 billion (2020)
142:
131:
113:
95:
77:
63:
45:
35:
26:
781:"CIC 2013 Annual Report"
703:businessdailyafrica.com/
281:South Sudanese Civil War
168:KES: 38.7 billion (2020)
22:CIC Insurance Group PLC
507:Nairobi Stock Exchange
355:Co-op Bank South Sudan
399:Percentage Ownership
334:investment management
123:), Dr. Nelson Kuria (
347:CIC Africa Insurance
255:cooperative movement
389:
338:Investment advisory
23:
385:
330:financial services
72:financial services
21:
485:
484:
316:general insurance
292:Jubilee Insurance
286:According to the
234:medical insurance
230:general insurance
188:
187:
868:
803:
802:
800:
798:
792:
786:. Archived from
785:
777:
771:
770:
768:
766:
752:
746:
745:
743:
741:
735:
729:. Archived from
728:
720:
714:
713:
711:
709:
694:
688:
687:
685:
683:
676:Capital Business
668:
662:
661:
659:
657:
651:
645:. Archived from
644:
636:
630:
629:
627:
625:
618:Capital Business
610:
604:
603:
601:
599:
585:
579:
578:
576:
574:
568:
562:. Archived from
561:
553:
547:
546:
544:
542:
528:
390:
384:
226:Asset Management
184:
181:
179:
167:
166:
160:
150:
149:
91:
89:
84:
31:
24:
20:
876:
875:
871:
870:
869:
867:
866:
865:
836:
835:
812:
807:
806:
796:
794:
793:on 26 July 2014
790:
783:
779:
778:
774:
764:
762:
754:
753:
749:
739:
737:
736:on 26 July 2014
733:
726:
722:
721:
717:
707:
705:
695:
691:
681:
679:
678:. 12 March 2014
670:
669:
665:
655:
653:
652:on 25 July 2014
649:
642:
638:
637:
633:
623:
621:
612:
611:
607:
597:
595:
587:
586:
582:
572:
570:
569:on 25 July 2014
566:
559:
555:
554:
550:
540:
538:
530:
529:
525:
520:
498:
490:
379:
349:(SS) Limited –
304:
250:
176:
156:
119:Patrick Nyaga (
116:
109:
103:
87:
85:
82:
50:
17:
12:
11:
5:
874:
864:
863:
858:
853:
848:
834:
833:
828:
823:
818:
811:
810:External links
808:
805:
804:
772:
760:Business Daily
747:
715:
689:
663:
631:
620:. 18 July 2012
605:
580:
548:
522:
521:
519:
516:
515:
514:
509:
504:
497:
494:
489:
486:
483:
482:
477:
472:
469:
468:
465:
462:
458:
457:
454:
451:
447:
446:
443:
440:
436:
435:
432:
429:
425:
424:
421:
418:
414:
413:
410:
405:
401:
400:
397:
394:
378:
375:
374:
373:
370:
364:
358:
344:
326:
323:life insurance
319:
303:
300:
249:
246:
240:, pension and
238:life Assurance
197:, is a Kenyan
186:
185:
174:
170:
169:
161:
153:
152:
144:
140:
139:
133:
129:
128:
125:Group Chairman
117:
114:
111:
110:
105:
99:
97:
93:
92:
79:
75:
74:
65:
61:
60:
51:
46:
43:
42:
40:Public company
37:
33:
32:
15:
9:
6:
4:
3:
2:
873:
862:
859:
857:
854:
852:
849:
847:
844:
843:
841:
832:
829:
827:
824:
822:
819:
817:
814:
813:
789:
782:
776:
761:
757:
751:
732:
725:
719:
704:
700:
693:
677:
673:
667:
648:
641:
635:
619:
615:
609:
594:
590:
584:
565:
558:
552:
537:
533:
527:
523:
513:
510:
508:
505:
503:
500:
499:
493:
481:
478:
476:
473:
471:
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466:
463:
460:
459:
455:
452:
449:
448:
444:
441:
438:
437:
433:
430:
427:
426:
422:
419:
416:
415:
411:
409:
406:
403:
402:
398:
396:Name of Owner
395:
392:
391:
388:
383:
371:
368:
365:
362:
359:
356:
352:
348:
345:
343:
339:
335:
331:
327:
324:
320:
317:
313:
309:
308:
307:
299:
297:
293:
289:
284:
282:
278:
274:
269:
267:
262:
258:
256:
245:
243:
239:
235:
231:
227:
223:
219:
215:
211:
207:
202:
200:
196:
192:
183:
175:
171:
162:
159:
154:
145:
141:
138:
134:
130:
126:
122:
118:
112:
108:
102:
98:
94:
80:
76:
73:
69:
66:
62:
59:
55:
52:
49:
44:
41:
38:
34:
30:
25:
19:
795:. Retrieved
788:the original
775:
763:. Retrieved
759:
750:
738:. Retrieved
731:the original
718:
706:. Retrieved
702:
692:
680:. Retrieved
675:
666:
654:. Retrieved
647:the original
634:
622:. Retrieved
617:
608:
596:. Retrieved
592:
583:
571:. Retrieved
564:the original
551:
539:. Retrieved
535:
526:
491:
479:
474:
386:
380:
305:
285:
270:
263:
259:
253:market, the
251:
214:Co-operative
203:
194:
190:
189:
158:Total assets
96:Headquarters
36:Company type
18:
708:22 December
840:Categories
518:References
488:Governance
273:greenfield
115:Key people
765:23 August
682:23 August
624:23 August
598:23 August
593:CIC Group
541:23 August
536:CIC Group
377:Ownership
242:annuities
195:CIC Group
121:Group CEO
68:Insurance
48:Traded as
496:See also
132:Products
64:Industry
797:18 June
740:18 June
656:18 June
573:18 June
312:Nairobi
248:History
206:Nairobi
173:Website
143:Revenue
101:Nairobi
86: (
78:Founded
480:100.00
467:52.14
412:35.71
296:Britam
791:(PDF)
784:(PDF)
734:(PDF)
727:(PDF)
650:(PDF)
643:(PDF)
567:(PDF)
560:(PDF)
475:Total
456:1.78
445:1.81
434:3.21
423:9.63
342:REITs
222:Reits
210:Micro
137:REITs
107:Kenya
799:2014
767:2017
742:2014
710:2014
684:2017
658:2014
626:2017
600:2017
575:2014
543:2017
393:Rank
351:Juba
340:and
294:and
236:and
224:and
218:fund
212:and
88:1968
81:1968
182:.ke
180:.co
178:cic
58:CIC
842::
758:.
701:.
674:.
616:.
591:.
534:.
336:,
332:,
257:.
232:,
228:,
220:,
104:,
70:,
56::
54:KN
801:.
769:.
744:.
712:.
686:.
660:.
628:.
602:.
577:.
545:.
461:6
450:5
439:4
428:3
417:2
404:1
357:)
325:.
318:.
127:)
90:)
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
