Browsing: CIC insurance gross profit

CIC Asset Management has retained its leading position in unit trusts in Kenya, with a 40.46% market share.
  • New data now shows that CIC Asset Management has retained its leading position in unit trusts in Kenya, with a 40.46 per cent market share
  • Assets under CIC’s management reached KSh 56.9 billion as of March 2022, which is a 1.14 per cent rise compared to KSh 56.2 billion as of December 2021
  • CIC Asset Management Managing Director Stanley Mutuku noted that the economy was on a growth trajectory, which is reflected in the performance

Kenya’s CIC Asset Management has retained its leading position in unit trusts in Kenya, with a 40.46 per cent market share.

Data by the Capital Markets Authority shows that the CIC unit trust scheme market share in the second quarter of 2022 was the largest unit trust scheme in the country.

Assets under CIC’s management reached KSh 56.9 billion as of March 2022, which is a 1.14 per cent rise compared to KSh 56.2 billion …

  • CIC Insurance’s gross profit hit KSh 464 million in the first six months of 2022, compared to a pre-tax profit of KSh 337 million posted in a similar period in 2021.
  • CIC said the performance was driven by strong growth in the gross written premium and improved performance on the underwriting results 
  • CIC’s gross written premium grew by 23 per cent to KSh 13.2 billion from KSh 10.7 billion, driven by growth in all its businesses in Kenya and the regional countries
  • The company’s total assets increased by 10 per cent from KSh 41 Billion as of 30th June 2021 to KSh 45.8 billion as of 30th June 2022 as investments continued to grow

CIC Insurance’s gross profit hit KSh 464 million in the first six months of 2022, compared to a pre-tax profit of KSh 337 million posted in a similar period in 2021. The performance represents a 38 …