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CIC Group

CIC · Nairobi Securities Exchange · Incorporated in Kenya · Consolidated statements

On this page
Company details
Legal name
The CIC Insurance Group PLC
Incorporated in
Kenya
Listing
CIC on the Nairobi Securities Exchange, active · ISIN KE2000002317 (observed 2026-10-07)
Sector
Insurance (our classification from the stated principal activity)
Activity
General and life insurance, pension scheme administration and fund management.
Financial year ends
31 December

Overview

Year ended 31 December 2025 · audited financial statements, signed / final · source

  • Insurance revenue (IFRS 17)

    KES 29.5 billion

    29,457,840 KES thousands · p36

    +11.8% vs 2024

    IFRS 17 insurance revenue, as printed: not gross written premiums.

  • Insurance service result

    −KES 176 million

    (176,048) KES thousands · p36

    −151.2% vs 2024

  • Profit / (loss) for the year

    KES 514 million

    513,821 KES thousands · p36

    −82.0% vs 2024

  • Total assets

    KES 73.7 billion

    73,747,539 KES thousands · p38

    +19.1% vs 2024

  • Insurance contract liabilities

    KES 52.7 billion

    52,676,984 KES thousands · p38

    +25.9% vs 2024

  • Total equity

    KES 11.8 billion

    11,845,326 KES thousands · p38

    +7.5% vs 2024

Large amounts are rounded for reading (KES million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.

Financial statements

Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in KES thousands unless the row says otherwise; brackets are negative.

† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table

Column sources

  • FY2025 — audited financial statements, signed / final; reported for the year · source
  • FY2024 — audited financial statements, signed / final; comparative in the FY2025 filing · source
  • FY2023 — annual report, signed / final; comparative in the FY2024 filing · source

Income statement

Income statement, KES thousands. Columns: FY2025 — audited financial statements (signed / final), as reported for the year; FY2024 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2025; FY2023 — annual report (signed / final), comparative reported in the annual report for 2024.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementscomparative in FY2025 filingFY2023Annual reportcomparative in FY2024 filing
Insurance revenue 29,457,840 26,348,750 25,400,902
Insurance service expenses (28,210,877) (24,231,278) (22,549,800)
Net expenses from reinsurance contracts held (1,423,011) (1,773,489) (2,062,875)
Insurance service result (176,048) 343,983 788,227
Interest revenue calculated using the effective interest method1 5,442,511 6,046,353 2,630,218
Other investment income2 227,726 210,529 209,561
Net losses on FVTPL investments3 466,363 186,904 (118,490)
Net gains from fair value adjustments to investment properties4 (99,796) 1,010,000 132,383
Foreign exchange gain5 135,653 1,365,025 82,565
Allowance for expected credit losses6 (15,600) 16,843 (5,399)
Investment result 6,156,857 8,835,654 2,930,838
Net finance expenses from insurance contracts (4,745,445) (5,303,219) (888,294)
Net finance income from reinsurance contract held7 186,286 286,386 152,482
Net investment result8 1,597,698 3,818,821 2,195,026
Revenue from asset management services9 1,782,872 1,267,493 1,163,775
Revenue from land and pharmaceutical sales10 267,761 –11 Not reported in this filing12
Cost of sales (233,642) –11 Not reported in this filing13
Other gains14 498,566 311,898 368,997
Other operating expenses (2,048,959) (1,724,706) (1,451,175)
Gain on monetary position15 65,664 552,914 –11
Operating profit 1,753,912 4,570,403 3,064,850
Other finance costs (503,479) (578,201) (517,822)
Share of profit/(loss) of associate company –16 1,518 (3,035)
Profit before income tax 1,250,433 3,993,720 2,543,993
Income tax expense (736,612) (1,139,087) (1,102,178)
Profit for the year 513,821 2,854,633 1,441,815
Total items that will not be subsequently reclassified to profit or loss17 (54,551) 4,580 87,839
Total items that may be subsequently reclassified to profit or loss18 717,221 887,444 (943,961)
Total other comprehensive income for the year19 662,670 892,024 (856,122)
Total comprehensive income for the year 1,176,491 3,746,657 585,693
NON - CONTROLLING INTERESTS2021 (74,746) 138,225 (56,135)
  1. Printed “-”, read as nil: subtotal_arithmetic: is.operating_profit.
  2. Printed “-”, read as nil: subtotal_arithmetic: is.profit_before_tax.
Notes and alternative reported figures (19)
  1. “Interest revenue calculated using the effective interest method” is an issuer-specific line, not mapped to a shared definition: Note 6.
  2. “Other investment income” is an issuer-specific line, not mapped to a shared definition: Note 6.
  3. “Net losses on FVTPL investments” is an issuer-specific line, not mapped to a shared definition: Note 7(a). Printed with this label although the amounts are gains in 2025 and 2024 (466,363; 186,904).
  4. “Net gains from fair value adjustments to investment properties” is an issuer-specific line, not mapped to a shared definition: Note 7(a). Printed with this label although 2025 is a loss ((99,796)).
  5. “Foreign exchange gain” is an issuer-specific line, not mapped to a shared definition: Note 7(a).
  6. Printed under different labels across filings: “Allowance for expected credit gains/(losses)”; “Allowance for expected credit losses”.
  7. “Net finance income from reinsurance contract held” is an issuer-specific line, not mapped to a shared definition: Note 8.
  8. “Net investment result” is an issuer-specific line, not mapped to a shared definition: Issuer subtotal: investment result less net insurance finance expenses.
  9. “Revenue from asset management services” is an issuer-specific line, not mapped to a shared definition: Note 5.
  10. “Revenue from land and pharmaceutical sales” is an issuer-specific line, not mapped to a shared definition: Note 5 (2025 only).
  11. Not reported in this filing: No land and pharmaceutical sales line in the 2024 statement of profit or loss (p106).
  12. Not reported in this filing: No cost-of-sales line in the 2024 statement of profit or loss (p106).
  13. “Other gains” is an issuer-specific line, not mapped to a shared definition: Note 7(b).
  14. “Gain on monetary position” is an issuer-specific line, not mapped to a shared definition: Note 55: IAS 29 hyperinflation (South Sudan subsidiary).
  15. “Total items that will not be subsequently reclassified to profit or loss” is an issuer-specific line, not mapped to a shared definition: As printed.
  16. “Total items that may be subsequently reclassified to profit or loss” is an issuer-specific line, not mapped to a shared definition: As printed.
  17. Printed under different labels across filings: “Total other comprehensive income for the year”; “Total other comprehensive income/(loss) for the year”.
  18. “NON - CONTROLLING INTERESTS” is an issuer-specific line, not mapped to a shared definition: Note 38.
  19. Printed under different labels across filings: “NON - CONTROLLING INTERESTS”; “Non - controlling interests”.

Balance sheet

Balance sheet, KES thousands. Columns: FY2025 — audited financial statements (signed / final), as reported for the year; FY2024 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2025; FY2023 — annual report (signed / final), comparative reported in the annual report for 2024.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementscomparative in FY2025 filingFY2023Annual reportcomparative in FY2024 filing
Property and equipment 1,168,105 1,113,946 1,142,870
Right of use-asset 130,035 145,571 241,930
Investment properties 3,321,952 3,726,499 7,834,198
Inventories1 4,995,200 5,056,000 –2
Intangible assets 310,456 286,579 301,398
Deferred income tax 869,634 979,172 1,380,869
Investment in associate –2 107,177 105,659
Financial assets at amortised cost- Corporate bonds3 204,750 89,156 95,646
Financial assets at amortised cost -Government securities 12,140,207 10,913,059 10,753,219
Financial assets at amortised cost -Loans receivable4 68,843 78,040 113,391
Financial assets at fair value through other comprehensive income - Government securities 24,151,531 18,297,531 13,579,374
Financial assets at fair value through other comprehensive income – Unquoted equity instruments5 121,389 29,224 22,796
Financial assets at fair value through profit or loss – Quoted equity instruments 1,995,892 931,739 647,506
Investments in collective investment schemes at fair value through profit or loss6 1,451,846 1,253,553 1,368,501
Reinsurance contract assets 4,954,022 5,058,722 3,733,993
Current income tax 252,487 176,112 87,155
Other receivables 2,113,555 928,481 852,434
Due from related parties7 244,665 253,813 183,047
Assets held for sale8 333,000 –2 Not reported in this filing9
Deposits with financial institutions10 14,192,821 11,690,023 7,573,290
Cash and cash equivalents 727,149 823,330 281,765
Total assets 73,747,539 61,937,727 50,299,041
Share capital 2,877,078 2,615,578 2,615,578
Share premium 162,179 162,179 162,179
Statutory reserve11 2,476,970 2,300,170 1,487,294
Contingency reserve12 3,549 3,549 138,692
Revaluation surplus 332,759 367,956 367,956
Foreign currency translation reserve13 (1,142,186) (1,025,233) (573,927)
Fair value reserve 695,952 (63,671) (1,522,605)
Retained earnings 6,516,592 6,711,325 5,017,650
Equity attributable the owners of the parent 11,922,893 11,071,853 7,692,817
Non-controlling interest (77,567) (58,018) (80,639)
Total equity 11,845,326 11,013,835 7,612,178
Deferred income tax 1,090,658 1,014,886 663,540
Insurance contract liabilities 52,676,984 41,842,105 34,227,277
Investment contract liabilities 90,718 98,924 141,273
Lease liability14 172,773 199,533 309,577
Borrowings 5,024,829 5,271,369 5,081,164
Other payables 2,813,350 2,484,432 2,034,225
Current income tax 32,901 12,643 229,807
Total liabilities 61,902,213 50,923,892 42,686,863
Total equity and liabilities 73,747,539 61,937,727 50,299,041
Deposits with banks – original maturity; maturing within 3 months15 12,186,571 9,194,250 4,584,059
  1. Printed “-”, read as nil: subtotal_arithmetic: bs.total_assets.
Notes and alternative reported figures (14)
  1. “Inventories” is an issuer-specific line, not mapped to a shared definition: Note 15(c): land held for sale in the ordinary course (Kiambu land).
  2. “Financial assets at amortised cost- Corporate bonds” is an issuer-specific line, not mapped to a shared definition: Note 20.
  3. “Financial assets at amortised cost -Loans receivable” is an issuer-specific line, not mapped to a shared definition: Note 22.
  4. “Financial assets at fair value through other comprehensive income – Unquoted equity instruments” is an issuer-specific line, not mapped to a shared definition: Note 24.
  5. “Investments in collective investment schemes at fair value through profit or loss” is an issuer-specific line, not mapped to a shared definition: Note 26(a).
  6. “Due from related parties” is an issuer-specific line, not mapped to a shared definition: Note 28.
  7. “Assets held for sale” is an issuer-specific line, not mapped to a shared definition: Note 15(d).
  8. Not reported in this filing: No assets-held-for-sale line in the 2024 statement of financial position (p108).
  9. “Deposits with financial institutions” is an issuer-specific line, not mapped to a shared definition: Note 29(a).
  10. “Statutory reserve” is an issuer-specific line, not mapped to a shared definition: Note 32.
  11. “Contingency reserve” is an issuer-specific line, not mapped to a shared definition: Note 33.
  12. “Foreign currency translation reserve” is an issuer-specific line, not mapped to a shared definition: Note 35.
  13. “Lease liability” is an issuer-specific line, not mapped to a shared definition: Note 14(a): current and non-current not separated.
  14. “Deposits with banks – original maturity; maturing within 3 months” is an issuer-specific line, not mapped to a shared definition: Note 48: added to cash and bank balances to give cash and cash equivalents in the statement of cash flows.

Cash flow

Cash flow, KES thousands. Columns: FY2025 — audited financial statements (signed / final), as reported for the year; FY2024 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2025; FY2023 — annual report (signed / final), comparative reported in the annual report for 2024.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementscomparative in FY2025 filingFY2023Annual reportcomparative in FY2024 filing
Cash generated from operations 5,961,576 4,068,379 5,700,056
Purchase of corporate bonds1 (128,154) (29) –2
Proceeds from maturity of corporate bonds3 13,260 2,486 2,189
Purchase of government securities at amortised cost4 (1,773,934) (783,461) (3,418,783)
Maturities of government securities at amortised cost5 618,609 584,384 1,126,479
Purchase of government securities at fair value through other comprehensive income6 (7,818,565) (4,906,678) (4,251,839)
Maturity of government securities at fair value through other comprehensive income7 2,879,750 1,925,870 1,065,000
Purchase of unquoted equity investment at fair value through other comprehensive income8 –2 (2,858) –2
Purchase of equity investment at fair value through profit or loss9 (534,980) (139,240) (106,091)
Proceeds from sale of equity investments at fair value through profit or loss10 46,883 24,548 384,225
Additions to collective investment schemes11 (1,034,613) (639,623) (635,195)
Proceeds from disposal of collective investment scheme12 996,094 771,934 493,070
Increase in deposits with financial institutions (excluding cash and cash equivalents)13 477,500 515,339 (464,131)
Interest paid on leases (20,377) (29,235) (29,023)
Interest received 5,442,511 6,046,353 2,630,218
Dividend received14 68,487 46,515 48,177
Income tax paid (743,063) (975,949) (813,579)
Repayment of interest portion of borrowings15 (696,645) (13,694) (7,993)
Net cash generated from operating activities 3,754,339 6,495,041 1,722,780
Purchase of property and equipment (172,481) (128,234) (240,488)
Proceeds from disposal of property and equipment 1,972 1,362 36,332
Purchase of intangible assets (82,985) (49,342) (71,330)
Net cash used in investing activities (253,494) (176,214) (275,486)
Proceeds from borrowings –16 107,272 112,078
Repayment of principal portion of borrowings (54,249) (462,012) (94,973)
Dividends paid (345,000) (345,000) (345,000)
Repayment of principal portion of lease liability (60,237) (86,963) (72,268)
Net cash used in financing activities (459,486) (786,703) (400,163)
INCREASE IN CASH AND CASH EQUIVALENTS 3,041,359 5,532,124 1,047,131
Effect of foreign exchange translations (145,219) (380,368) 14,729
CASH AND CASH EQUIVALENTS AT 1 JANUARY 10,017,580 4,865,824 3,803,964
CASH AND CASH EQUIVALENTS AT 31 DECEMBER 12,913,720 10,017,580 4,865,824
  1. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_operations.
  2. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
Notes and alternative reported figures (14)
  1. “Purchase of corporate bonds” is an issuer-specific line, not mapped to a shared definition: Operating activities.
  2. “Proceeds from maturity of corporate bonds” is an issuer-specific line, not mapped to a shared definition: Operating activities.
  3. “Purchase of government securities at amortised cost” is an issuer-specific line, not mapped to a shared definition: Operating activities.
  4. “Maturities of government securities at amortised cost” is an issuer-specific line, not mapped to a shared definition: Operating activities.
  5. “Purchase of government securities at fair value through other comprehensive income” is an issuer-specific line, not mapped to a shared definition: Operating activities.
  6. “Maturity of government securities at fair value through other comprehensive income” is an issuer-specific line, not mapped to a shared definition: Operating activities.
  7. “Purchase of unquoted equity investment at fair value through other comprehensive income” is an issuer-specific line, not mapped to a shared definition: Operating activities.
  8. “Purchase of equity investment at fair value through profit or loss” is an issuer-specific line, not mapped to a shared definition: Operating activities.
  9. “Proceeds from sale of equity investments at fair value through profit or loss” is an issuer-specific line, not mapped to a shared definition: Operating activities.
  10. “Additions to collective investment schemes” is an issuer-specific line, not mapped to a shared definition: Operating activities.
  11. “Proceeds from disposal of collective investment scheme” is an issuer-specific line, not mapped to a shared definition: Operating activities.
  12. “Increase in deposits with financial institutions (excluding cash and cash equivalents)” is an issuer-specific line, not mapped to a shared definition: Operating activities. Printed 'Increase' for inflows in 2025 and 2024.
  13. “Dividend received” is an issuer-specific line, not mapped to a shared definition: Operating activities.
  14. “Repayment of interest portion of borrowings” is an issuer-specific line, not mapped to a shared definition: Operating activities (note 39).

Per share and shares

Per share and shares. Columns: FY2025 — audited financial statements (signed / final), as reported for the year; FY2024 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2025; FY2023 — annual report (signed / final), comparative reported in the annual report for 2024.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementscomparative in FY2025 filingFY2023Annual reportcomparative in FY2024 filing
Earnings / (loss) per share (per share)1 0.21 1.04 0.57
Profit / (loss) attributable to shareholders (KES thousands)32 588,567 2,716,408 1,497,950
Weighted average shares (shares)4 2,746,328 thousand 2,615,578 thousand 2,615,578 thousand
Notes and alternative reported figures (4)
  1. Earnings / (loss) per share: printed as “Basic and diluted earnings per share (Kshs)”.
  2. Printed under different labels across filings: “ORDINARY EQUITY HOLDERS OF THE PARENT”; “Ordinary equity holders of the parent”.
  3. Profit / (loss) attributable to shareholders: printed as “ORDINARY EQUITY HOLDERS OF THE PARENT”.
  4. Weighted average shares: printed as “Weighted average number of shares (in thousands)”.

Segments

Segment data not yet collected for this company in the pilot.

Dividends

Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.

Dividend events, the issuer's wording, and amounts as printed
Year endedEventWording as printedAmountUnitSource
31 Dec 2025 Dividend recommended, subject to shareholder approval The directors recommend payment of dividends for the year 2025 of KShs 374 million (2024: KShs 345 million) no amount Audited financial statements, p4
31 Dec 2025 Dividends paid (cash flow statement) Dividends paid (345,000) KES thousands Audited financial statements, p44
31 Dec 2024 Dividend recommended, subject to shareholder approval The directors recommend payment of dividends for the year 2024 of KShs 345 million (2023: KShs 345 million) no amount Annual report, p94
31 Dec 2024 Dividends paid (cash flow statement) Dividends paid (345,000) KES thousands Audited financial statements, p44
31 Dec 2023 Dividends paid (cash flow statement) Dividends paid (345,000) KES thousands Annual report, p114

Sources

Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.

  • The CIC Insurance Group PLC Annual Report and Financial Statements for the year ended 31 December 2025

    Year ended 31 December 2025 · Audited financial statements · signed / final

    Audit: PricewaterhouseCoopers LLP, unmodified opinion · signed

    Auditor's sign-off: PricewaterhouseCoopers LLP; engagement partner CPA Bernice Kimacia (practising certificate number 1457)

    Final status: Auditor's report signed for PricewaterhouseCoopers LLP (engagement partner CPA Bernice Kimacia) and dated 2 April 2026 (PDF p35, page image); statements approved by the board on 30 March 2026 and signed by the chairman, the group MD & CEO and a director (PDF p38, page image).

    Document date
    2 Apr 2026
    Auditor's report
    2 Apr 2026
    Board approval
    30 Mar 2026
    Retrieved by us
    7 Oct 2026 (not a publication date)
    Used for
    statement columns FY2025, FY2024
    Basis
    consolidated statements · KES thousands (printed “KShs'000”)
    • Key audit matters (PDF pp31-33), including the valuation of insurance contract liabilities.
    • Earnings per share use a weighted average of 2,746,328 thousand shares for 2025 and leave 2024 at 2,615,578 thousand (note 12, p109), although a 1:10 bonus issue was recommended for 2024 and share capital rose to 2,877,078 thousand. IAS 33 treats bonus shares as outstanding from the start of the earliest period presented; that the comparative was not adjusted is an inference from the printed figures, not stated by the issuer.
    • Two investment-result lines carry labels opposite in sign to their amounts: 'Net losses on FVTPL investments' shows gains (466,363; 2024: 186,904) and 'Net gains from fair value adjustments to investment properties' shows a 2025 loss ((99,796)). Recorded as printed. Many investment purchases and maturities, interest received and tax are presented under operating activities. The board approved the statements on 30 March 2026; the auditor's report is dated 2 April 2026.
    • Dividends of KShs 374 million recommended for 2025 (2024: KShs 345 million); no per-share amount is printed in the report of the directors (p4). Cash and cash equivalents include KShs 14,223,000 held in escrow for the sale of the Kiambu land (note 48).
    Technical details
    File
    195 pages, with a text layer
    SHA-256
    33a07ded4f24c94830142fe773258c983a83a1aab2dd445e96eb6cb042c54b43
    Entity as printed
    The CIC Insurance Group PLC (the Company) and its subsidiaries (the Group)
    Issuer copy
    retrieved 2026-10-07T23:43:34Z

  • The CIC Insurance Group PLC Annual Report & Financial Statements 2024

    Year ended 31 December 2024 · Annual report · signed / final

    Audit: PricewaterhouseCoopers LLP, unmodified opinion · signed

    Auditor's sign-off: PricewaterhouseCoopers LLP; engagement partner CPA Bernice Kimacia (practising certificate number 1457)

    Final status: Auditor's report signed for PricewaterhouseCoopers LLP (engagement partner CPA Bernice Kimacia) and dated 27 March 2025 (PDF p105, page image); statements approved by the board on 27 March 2025 and signed by the chairman, the group MD & CEO and a director (PDF p109, page image).

    Document date
    27 Mar 2025
    Auditor's report
    27 Mar 2025
    Board approval
    27 Mar 2025
    Retrieved by us
    7 Oct 2026 (not a publication date)
    Used for
    statement columns FY2023
    Basis
    consolidated statements · KES thousands (printed “KShs'000”)
    • Key audit matters (PDF pp101-103), including the valuation of insurance contract liabilities.
    • 'Net losses on FVTPL investments' shows a 2024 gain (186,904) and a 2023 loss ((118,490)), as printed. Investment purchases and maturities, interest received and tax are presented under operating activities. The gain on monetary position (IAS 29) first appears in 2024 (552,914).
    • Dividends of KShs 345 million recommended for 2024 (2023: KShs 345 million) and a 1:10 bonus share issue (report of the directors, p94).
    Technical details
    File
    280 pages, with a text layer
    SHA-256
    5909d28a216fd30e85032a9deb13a351b3edde58c7b4b163fc48448951c888fd
    Entity as printed
    The CIC Insurance Group PLC (the Company) and its subsidiaries (the Group)
    Issuer copy
    retrieved 2026-10-07T23:43:39Z

Data notes

No figure-level notes beyond those in the tables.

Review status: every figure has been checked against its cited source page in an AI-assisted source verification (7 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.

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