CIC Insurance has recorded a n 153 percent net profit to Kes 1.2 billion for the six months ending June compared to a similar period last year.
The insurer attributes the growth to new initiatives introduced earlier, focusing on customer experience, digital transformation, data analytics, and performance management.
In a statement, the General insurance and life assurance earnings grew 21 percent and 23 percent to Kes 7 billion and Kes 4.3 billion, respectively.
“To maintain the growth trajectory CIC will continue investing in technology to strengthen performance and achieve customer retention in the long term.”
“We will remain resolute in the implementation of our other various strategies including research and innovation, debt management, cost optimization, risk, compliance, Environmental, Social and Governance (ESG) integration among others.”
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The insurer’s subsidiaries in Uganda, South Sudan, and Malawi contributed 10 percent to the group’s earnings in the review period.
