CIC Insurance Group Profile
The CIC Insurance Group comprises CIC Insurance and CIC Asset Management Ltd. CIC is the leading provider of micro insurance and other financial services in Kenya. It has been in operation for the last 33 years. CIC is owned by over 1,500 Co-operative Societies and over 2,500 individual Co-operators with the Co-operative Bank of Kenya Limited holding a 21% stake. CIC is the market leader in providing insurance services to the co-operative and low-income market segments in Kenya. As a composite Insurance company offering a wide range of products such as General Insurance, life Insurance, pension ,medical and Asset management services, CIC now occupies 3rd position in terms of market share (2010) in the Kenyan Insurance market.

CIC’s vision is to be a world class provider of insurance and other financial services through the co-operative spirit.

With a capital base of Ksh. 6.7 Billion and 1.3 Million clients, CIC ranks among the most successful insurance companies in Kenya and is the only thriving and surviving co-operative insurer in Africa. The company is also focusing to be a leader in the region and is targeting to expand operations in the East and Central parts of Africa such as Southern Sudan, Rwanda, Malawi and Tanzania.

In 2010, the gross premium income soared to Ksh. 4.6 Billion from Ksh. 2.9 Billion the previous year. The company’s assets also rose to Ksh. 6.6 Billion in 2010 as compared to Ksh. 3.5 Billion the previous year. Profit before tax grew by 117% from Ksh. 277.7 Million in 2009 to Ksh. 605.3 Million in 2010. Read More.

In the last financial year, CIC posted a 58 percent increase in overall business volume, an unprecedented growth in the Kenyan insurance industry, with the micro-insurance niche contributing over Ksh. 600 Million in gross premiums. The company projects to rake in Ksh. 7.5 Billion in 2011 through improving distribution  and premium payment modes to suit the intermittent income of the lower market segment. CIC Insurance Group is targeting premium income of Ksh. 10 Billion by the end of 2013.

 Last year CIC launched M-Bima, an insurance premium payment instrument that rides on mobile money transfer platforms such as M-Pesa in a bid to reach the mass market. Policy holders with the Group can now remit as little as KSh. 20 premium payment through their cell phones.Other products targeting the micro sector are the Biashara Salama policy offering cover against fire and theft for Small
and micro traders, Jilinde Personal Accident policy, a micro personal Accident plan, Jikinge plan for security guards and Jamii Salama, a cocktail product for families with Death, funeral and accident covers.

We draw great inspiration from our tagline, We Keep Our Word. To find out more, email us at This e-mail address is being protected from spambots. You need JavaScript enabled to view it