Cic Insurance Group Plc · NSEKE:CIC
Cic Insurance — FY2024 Earnings Presentation
32 slides from Cic Insurance's earnings presentation, Apr 3, 2025
Slide 1: Investor Briefing 2024 End Year Results
Cr) CIC GROUP Investor Briefing 2024 End Year Results
Slide 2: Agenda
Agenda 1. Overview and Strategy 2. Economic Overview 3. Financial Performance 4. Regional Performance
Slide 3: Overview & Strategy
OVERVIEW & STRATEGY * Life * Health » Asset CIC GROUP
Slide 4: Quick Facts
Quick Facts Our Footprint Kenya - 1968: 25 Branches Uganda - 2014: 5 Branches Malawi - 2014: 3 Branches South Sudan - 2013: 1 Branch 21% as at Q4 2024 8.8% as at Q2 2024 4.82% as at Q2 2024 Life Unit Trust General Business Assurance Market Share Market Share Markets Share
Slide 5: Quick Facts
Quick Facts 26.3B Insurance 3.9B PBT 15.6B Total Claims 893 Employees Revenue Paid 61.9B Total Assets CSI Score 86% Over 7,000 Agents 152B Asset Under & Brokers Management
Slide 6: Our Philosophies & Values
Our Philosophies & Values Overview & Strategy A financial service industry institution predominately owned by the Co-operative Movement transforming lives. Why we exist as CIC Insurance Group We operate in Kenya and the region using the co-operative model to ensure that we economically and socially
Slide 7: Group Structure
GROUP STRUC cic cic cic cic ac cic GENERAL LIFE ASSET AFRICA CIC AFRICA PHARRIEE MICRO INSURANCE ASSURANCE MANAGEMENT UGANDA INSURANCE up =} INSURANCE LTD LTD (SOUTSUDANLID) LTD LTD cic AFRICA CO-OPERATIVES Lr (maLava General « Life * Health » Asset Cc) CIC GROUP
Slide 8: Group Structure
GROUP STRUCTURE 90.00% 80.00% 76.74% 70.00% 60.00% 50.00% 40.00% 30.00% 22.17% 20.00% 10.00% 0.09% 0.94% 0.06% 0.00% 0.00% FOREIGN FOREIGN LOCAL LOCAL EAST AFRICAN JUNIOR INDIVIDUALS COMPANIES COMPANIES INDIVIDUALS INVESTORS INVESTORS
Slide 9: Senior Management
Senior Management Mr. Patrick Nyaga Mr. Philip Kimani Mr. Fred Ruoro Mr. Meshack Miyogo Mr. Humphrey Gathungu Group Managing Director & CEO Group CFO Managing Director Managing Director Managing Director CIC General Insurance CIC Life Assurance CIC Asset Management Dr. Lydia Kiburu Mrs. Joyce Mwashi
Slide 10: Senior Management
Senior Management Mr. Michael Mugo Mr. Eric Obila Mr. Zachary Wambugu Ms. Susan Robi Principal Officer, Managing Director Managing Director Director Microinsurance CIC Africa (U) Ltd CIC Africa Malawi Risk & Compliance Mr. Muyesu Luvai Mr. Richard Nyakenogo Ms. Salome Wambui Henry Njerenga Director
Slide 11: Our Journey
ur Journey Cisstartedasaninsurance {Ic Insurance Group listed ts ame change fom C15 to] Name change to CIC insurance | Wefuliy demerge esting in the Cooperative Group in or the or agency within the Kena Shares by intouclon at the National Federation "of of Kenya Ltd (10, Forte Srourtifesnd | +CIcLte
Slide 12: Strategy Execution
Strategy Execution Product & Market Diversification Markets Products • Micro insurance company • Micro Product - Malawi • CIC Pharmacy • Medical - Uganda • CICAM Uganda • Travel, SME, Seniors Medical - South Sudan Investment in Digital Channels • EasyBima digital platform - self service, customized
Slide 13: Strategy Execution
Strategy Execution Sustainability • Development of Environmental, Social & Governance (ESG) strategy • 1st sustainability report launched • 5000 Co-operative Board members trained • 5.1M spent on educating needy students • Advancing of gender equality: ❖ 52% female and 48% male employees; ❖ Increasi
Slide 14: Awards 2024
Awards 2024 • Think Business Awards (9): Winner Claims settlement award AKI Awards Fastest Growing Brand in 2024 and Fraud detection prevention initiative for our Life • Winner Most Improved Company 2024 Assurance • Winner Highest growth in number of life policies • 1st Runners up: Life insurer, med
Slide 15: Economic Overview
ECONOMIC OVERVIEW * Life * Health » Asset CIC GROUP
Slide 16: Economic Overview
Economic Overview Central Bank Rates (CBR) Kenya 13.50% 13.00% 12.75% 13.00% 12.50% 12.50% 12.00% 12.00% 11.25% 11.50% 11.00% 10.50% 10.00%
Slide 17: Financial Highlights
FINANCIAL HIGHLIGHTS * Life * Health * Asset CIC GROUP
Slide 18: Insurance Revenue Contribution
Insurance Revenue Contribution Insurance revenue per Country Kshs Billions Insurance revenue contribution per Country 30.00 22.15 26.35 100% 87% 87% 25.40 25.00 22.82 80% 20.00 60% 15.00 40% 10.00 1.72 0.95 0.58 5.00 20% 6% 7% 1.69 1.18 0.67 4% 4% 3% 2% - 0% Kenya Uganda Malawi S Sudan Total Kenya U
Slide 19: PBT Contribution Per Country
PBT Contribution Per Country Profit before tax per Country Kshs Millions Profit before tax contribution per Country 4,500 120% 3,994 105% 4,000 100% 3,500 3,366 84% 3,000 80% 2,680 2,544 2,500 60% 2,000 40% 1,500 1,000 20% 3% 5% 10% 199 397 500 85 1% 31 0% - Kenya Uganda Malawi S Sudan Kenya Uganda
Slide 20: PBT Contribution Per Business
PBT Contribution Per Business Insurance Business PBT Asset Management PBT Holding Business PBT 115% 3,500 28% 760 7% 200 753 3,146 95 750 100 3,000 740 - 2,461 2023 2024 2,500 730 (100) 2,000 720 (200) 710 1,500 (300) 704 700 (400) 1,000 690 (500) 500 680 (600) - 670 (631) 2023 2024 2023 2024 (700)
Slide 21: Capital Adequacy Ratios
Capital Adequacy Ratios Capital Adequacy Ratios - December 2024 300% 256% 250% 216% 206% 200% 193% 162% 163% 155% 150% 150% 117% 100% 73% 50% 21% 20% 0% GB KE Life KE GB UG Life UG GB MW Life MW 2023 2024 Minimum required
Slide 22: Deposits Admin Fund Value
Deposits Admin Fund Value 16.00 Deposits Admin Fund Value in KShs. 'Billions 14.29 14.00 12.00 CAGR 24% 9.92 10.00 8.00 7.31 5.80 6.00 4.95 4.00 2.00 - 2020 2021 2022 2023 2024
Slide 23: Growth in Income & Profitability
Growth in Income & Profitability Insurance revenue Investment return Kshs Billions Kshs Billions 10.00 30.00 8.00 25.00 20.00 6.00 15.00 8.84 25.40 26.35 4.00 10.00 20.73 2.00 5.00 2.56 2.93 - - 2022 2023 2024 2022 2023 2024 Insurance service result PBT Kshs Millions Kshs Billions 5,000 1.00 4,000 0
Slide 24: Growth Trends
Growth Trends Total Assets Kshs Billions Assets under management Kshs Return on Assets and Return on Billions Equity 70.0 35.0% 160 30.7% 60.0 CAGR 12% 30.0% 140 CAGR 14% 50.0 25.0% 120 20.0% 19.2% 40.0 100 30.0 61.9 80 15.0% 146 152 50.3 127 43.5 60 10.0% 20.0 39.0 7.5% 94 5.4% 40 80 5.0% 10.0 1.9%
Slide 25: Total Equity & Liquidity
Total Equity & Liquidity CAGR 8% CAGR 37%
Slide 26: Group Performance
Group Performance Insurance Revenue Assets Under Management Investment Return Kshs. 26.35B Kshs. 152B Kshs. 8.8B (2023: Kshs. 25.4B) (2023: Kshs. 146B) (2023 :Kshs. 2.93B) 4% 14% 201% Insurance Service Result Kshs. Profit Before Tax Total Assets 0.34B Kshs. 3.9B Kshs. 61.9B (2023: Kshs. 0.79B) (2023
Slide 27: Regional Performance
ZAMBIA Wakes NAMIBIA | ‘General « Life *Health« Asset | io
Slide 28: Kenya
Kenya Insurance Revenue Group Life Insurance Revenue Non-medical Kshs. 22.82B Kshs. 6.32B Kshs 8.34B (2023: Kshs. 22.15B) (2023: Kshs. 5.68B) (2023: Kshs. 8.26B) 3% 11% 1% Insurance Revenue Medical Individual life & Annuity Kshs. 7.63B Kshs 0.52B (2023: Kshs. 7.19B) (2023: Kshs. 0.42B) 6% 25% Perfor
Slide 29: Uganda
Uganda Insurance Revenue Group Life Kshs. 1.69B Kshs 0.55B (2023:Kshs. 1.72 B) (2023: Kshs. 0.51B) -1.7% 8% Insurance Revenue Non-medical Individual life Kshs. 1.10B Kshs. 0.04B (2023: Kshs. 1.18 B) (2023: Kshs. 0.04B) -7% 5% Life business registered growth while there was a slight decline in the in
Slide 30: Malawi
Malawi Insurance Revenue Group Life Kshs 1.18B Kshs 0.38 B (2023:Kshs 0.95 B) (2023:Kshs 0.34B) 24% 12% Insurance Revenue Non-medical Individual life Kshs 0.61B Kshs 0.00B (2023:Kshs 0.80 B) (2023:Kshs 0.00B) 31% 116% Performance underpinned by resilient growth in topline and improved insurance reve
Slide 31: South Sudan
South Sudan Insurance Revenue Group Life Kshs 0.67B Kshs 0.01B (2023:Kshs 0.58 B) (2023:Kshs 0.01B) 16% 3% Insurance Revenue Non-medical Kshs 0.11B (2023:Kshs 0.90 B) 19% Performance underpinned by resilient growth in topline and improved insurance revenue. All business lines registered positive gro
Slide 32: Thank You
Thank You We keep our word