{
  "id": 4844202,
  "title": "CIC Insurance Group profit jumps 70% on investment gains",
  "url": "https://urgent.news/2026/09/01/cic-insurance-group-profit-jumps-70-on-investment-gains",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-01T10:42:27.000Z",
  "source": {
    "name": "Capital Business",
    "slug": "capital-business",
    "url": "https://capitalfm.africa/cic-insurance-group-profit-jumps-70-on-investment-gains/"
  },
  "original_language": "en",
  "account": "Nairobi, Kenya – CIC Insurance Group announced a significant 70.3% increase in profit after tax to Sh1.09 billion for the six months ending June, driven by robust investment returns and expansion in its insurance services. The company's insurance revenue surged 17.8% to Sh16.34 billion, from Sh13.87 billion a year prior. Investment returns expanded by 44% to Sh3.96 billion, a key factor in the earnings surge. General insurance business saw an 18% rise in revenue to Sh10.7 billion, with profit before tax up 33% to Sh734 million, primarily due to increased motor and medical insurance business volumes. Life assurance unit also grew, with insurance revenue increasing 20% to Sh4 billion, but profit before tax was lower at Sh190 million due to higher claims. Overall, CIC Asset Management's assets under management rose 19% to Sh211.7 billion, with profit before tax up 9% to Sh526 million. The fixed income fund grew 61% to Sh29 billion, reflecting strong demand for fixed-income investments. CIC's regional operations showed mixed performance, with insurance revenue in Malawi up 5% and in South Sudan up by 71%. Uganda's insurance revenue declined by 31%. The group's total assets increased to Sh81.68 billion, and earnings per share rose to Sh0.38 from Sh0.23. CIC is expanding into microinsurance to cater to underserved customers.",
  "summary": "NAIROBI, Kenya, Sept 1 – CIC Insurance Group has reported a 70.3 percent increase in profit after tax to Sh1.09 billion for the six months ended June, supported by higher…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Investing.com",
        "title": "Macfarlane Group H1 2026 slides: profit recovery gains traction",
        "url": "https://urgent.news/2026/09/01/macfarlane-group-h1-2026-slides-profit-recovery-gains-traction",
        "published": "2026-09-01T11:26:52.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}