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International

Kenyan insurer CIC Insurance pursues expansion in East Africa

October 16, 2014 Reprints

Kenya-based CIC Insurance Group Ltd. has announced plans to expand in East Africa through CIC Africa Ltd., Capital FM Kenya reported.

Nelson Kuria, CIC's chief executive, said the firm would enter Uganda through CIC Africa. Mr. Kuria expects Uganda's economy to grow and believes now is the right time to enter the market. With this move, CIC hopes to see a five-fold increase in its gross written premiums by the end of 2018 to 45 billion Kenyan shillings ($504 million) from KES 9 billion currently.

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Kenyan insurer CIC Insurance pursues expansion in East Africa

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