This is a list of all CIC insurance products and branches in Kenya. CIC Insurance Group Limited, commonly referred to as CIC Group, is an insurance and investment group that operates mainly in Kenya, Uganda, South Sudan and Malawi. CIC Group has a network of branches and operational subsidiaries spread across the 4 countries. The group’s headquarters are located in CIC Plaza, Mara Road, Upperhill in Nairobi, Kenya. CIC Insurance Group is leading Micro and Co-operative insurance provider in Kenya with its subsidiaries involved in fund, Reits and Asset Management, general, Health and Group & Individual Life, pension and annuities. The Group expanded regionally to set its footprint in Uganda, South Sudan and Malawi in 2015.
The Group’s origins in Kenya date back to 1968 when it was a department within the Kenya National Federation of Co-operatives. In 1978, the department was registered and licensed as Co-operative Insurance Services Limited, a composite insurance company to write all classes of business with its target market, the cooperative movement.
In 1999, the company was changed to the Co-operative Insurance Company of Kenya Limited (CIC) and later to CIC Insurance Group Limited in 2010. This change was in preparation for the de-merger of its life and general business operations.
The Group made its debut on the Nairobi Securities Exchange (NSE) on 18 July 2012. This made it the 6th insurance company to be listed on the NSE and the 60th company to be listed on the NSE overall.
In 2014, CIC Group announced its intention to expand to Uganda, South Sudan, Tanzania, Rwanda and Malawi. In South Sudanese market, the Group plans to set up a greenfield operation in which it would hold 69 per cent of issued capital in a new local entity while the Cooperative Bank of South Sudan (a subsidiary of the Cooperative Bank of Kenya) would take up the remaining 31 per cent. This expansion would be pegged on the resolution of the South Sudanese Civil War. In Uganda, the Group aims to partner with the Uganda Cooperatives Savings and Credit Union to establish an insurance company in which CIC Insurance Group would own 40 per cent of the unit. CIC Group stated that in Malawi, it would start with a 70 per cent stake in a new subsidiary with the remaining being held by the Malawi Union of Savings and Credit Cooperative and the Farmers Union of Malawi (FUM).
According to the Insurance Regulatory Authority report released in September 2014, CIC Insurance was ranked third in market share with 9% of the market behind Jubilee Insurance and Britam, who controlled 11.9% and 11.2% respectively.
Subsidiaries and associated companies
The companies that comprise the CIC Insurance Group Limited include, but are not limited, to the following:
- CIC General Insurance Limited – Nairobi, Kenya – 100% Shareholding – The flagship company of the group. Offering general insurance.
- CIC Life Assurance Limited – Nairobi, Kenya – 100% Shareholding – Offering life insurance.
- CIC Asset Management Limited – Nairobi, Kenya – 100% Shareholding – Offering financial services, investment management, Investment advisory and REITs
- CIC Africa Insurance (SS) Limited – Juba, South Sudan 69% Shareholding – Offering Insurance. (31% shareholding is by Co-op Bank South Sudan)
- CIC Africa Insurance (Malawi) Limited – ??% Shareholding – Offering Insurance. (??% Malawi Union of Savings and Credit Cooperatives)
- CIC Africa Insurance Uganda Limited – Kampala, Uganda – ??% Shareholding
- Takaful Insurance of Africa Limited
CIC Ownership
The shares of the CIC Insurance Group Limited are listed on the NSE, where it trades under the symbol CIC. As of 31 December 2013, the five largest shareholders in the Group’s stock are depicted in the table below:
| Rank | Name of Owner | Percentage Ownership |
|---|---|---|
| 1 | Cooperative Bank of Kenya | 35.71 |
| 2 | Co-operative Bank Savings & Credit Society Ltd | 9.63 |
| 3 | K-Unity Savings & Credit Co-operative Society | 3.21 |
| 4 | Harambee Co-operative Savings & Credit Society ltd | 1.81 |
| 5 | Embu Farmers Savings & Credit Co-Operative Society | 1.78 |
| 6 | Others Local and International Investors | 52.14 |
| Total | 100.00 |
CIC General Insurance Products
Their general insurance products include motor insurance, marine insurance, agriculture insurance, personal accident insurance, school products ( school bus insurance and school guard insurance), Mjengo plus, Biashara Salama, Travel insurance, sports person’s policy, domestic package, burglary and consequential loss.
Individual Solutions
- Motor Private Insurance
- Motor Commercial Insurance
- Home Insurance
- Seniors Mediplan
- Money Market Fund
- Personal Accident
- Academia
- Jipange Plus
- Haba Haba na CIC
- Smart Saver
- Professional Indemnity
Business Solutions
- Motor Commercial Insurance
- Motor Private
- WIBA
- Personal Accident
- SME Mediplan
- Money Market Fund
- Fire Insurance
- Income Draw Down
- Jipange Plus
- Property Insurance
Corporate Solutions
- Motor Commercial Insurance
- Motor Private
- WIBA
- Personal Accident
- Corporate Mediplan
- Money Market Fund
- Income Draw Down
- Fire Insurance
- Jipange Plus
- Property Insurance
Cooperative Solutions
- Motor Commercial Insurance
- Money Market Fund
- Loan Guard
- Board Endowment
- Employee Group Life
- WIBA
- Group Credit Life
- Fire Industrial
- Afya Bora
- CoopCare Health Insurance
- CIC Umbrella Retirement Benefits Scheme
List of CIC Insurance Branches In Kenya and Contacts
CIC Insurance Head office
Location: CIC Plaza, Mara Road, Upper Hill, Nairobi
Phone: (+254) 703 099 120 (020) 282 3000
CIC Insurance CBD branch
Location: Reinsurance Plaza, Mezzanine Floor Aga Khan Walk, Nairobi
Phone: +254 703 099 500
CIC Insurance Buruburu branch
Location: Mumias Road, Ground Floor, Vision Place, Nairobi,
Phone: +254 773 592 119
CIC Insurance Westlands branch
Location: Pamstech House, Woodvale Grove, Nairobi
Phone: 0718 882 826
CIC Insurance Mombasa branch
Location: Furaha Plaza, Nkrumah Road, Mombasa
Phone: 0703 099 751
CIC Insurance Kilifi branch
Location: Almadina Plaza, Charo Wa Mae Road, Kilifi
Phone: 0739 111 166
CIC Insurance Machakos branch
Location: Ngei Road, 2nd Floor, ABC Imani Plaza, Machakos
Phone: (044) 202 0349
CIC Insurance Thika branch
Location: Kenyatta Highway, 6th Floor, Thika Arcade, Thika
Phone: 067 20209
CIC Insurance Kiambu branch
Location: Bishop Magua house, Kiambu Rd, Kiambu
Phone: (066) 202 2038
CIC Insurance Nyeri branch
Location: Gakere Road, 3rd Floor, District Co-op Union Building, Nyeri
Phone: (061) 203 0657
CIC Insurance Nyahururu branch
Location: Kimwa Centre, 2nd Floor Kenyatta Rd, Nyahururu
Phone: (065) 203 2055
CIC Insurance Nanyuki branch
Location: Pearl Place, 1st floor, Laikipia
Phone: 0703 099 770
13. CIC Insurance Embu branch
Location: Embu-Meru Highway, opposite Consolidated Bank, 3rd Floor, Sparkos Building, Embu
Phone: 0703 099 900
CIC Insurance Meru branch
Location: Ghana Street, 1st Floor, Bhatt Building
Phone: (064) 313 0869, (064) 313 0591
CIC Insurance Kisumu branch
Location: Oginga Odinga Road, Mezzanine floor, Wedco Centre, Kisumu
Phone: (057) 202 5063
CIC Insurance Kakamega branch
Location: Kisumu-Kakamega Road, Ground Floor, Walia’s Centre, Kakamega
Phone: (056) 203 0242
CIC Insurance Kisii branch
Location: Hospital Road, Opposite KCB Bank, 2nd Floor, Magsons Plaza, Kisii
Phone: 0725 987 183
CIC Insurance Bungoma branch
Location: Hospital Road, 3rd Floor, Bungoma Teachers SACCO Plaza, Bungoma
Phone: (055) 203 0121
CIC Insurance Homa Bay branch
Location: Cold Springs, Homa Bay
Phone: 0770 735 827
CIC Insurance Nakuru branch
Location: Mache Plaza, 2nd Floor, Geoffrey Kamau Ave, Nakuru
Phone: (051) 221 6035 (051) 221 7204
CIC Insurance Eldoret branch
Location: Ronald Ngala Street 1st Floor, Co-operative Bank Building, Eldoret
Phone: 0703099660
CIC Insurance Kericho branch
Location: Moi Highway, 2nd Floor, Kipsigis Teachers SACCO Building, Kericho
Phone: 0704 223 400
CIC Insurance Kitale branch
Location: Kitale
Phone: 0703 099951
CIC Insurance Naivasha branch
Location: Eagle Centre, Mbaria Kaniu Road, Naivasha,
Phone: 0703 099 763
- CIC Insurance Group Homepage
- Cooperative Bank of Kenya Homepage
- Insurance Regulatory Authority
- CIC Life Assurance Credit Ratings
