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Kenya's CIC Insurance plans subsidiaries in South Sudan, Uganda and Malawi

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Kenya-based CIC Insurance Group Ltd. has announced plans to invest more than 1.2 billion Kenyan shillings ($14 million) to open subsidiaries in South Sudan, Uganda and Malawi in 2014, Capital FM Kenya reported.

CIC's chief executive Nelson Kuria said the insurer would venture into the three countries between May and July. The three subsidiaries will be established through joint ventures, with CIC having majority stakes.

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