The CIC Insurance Group Income Statement

Financials in millions KES. Fiscal year is January - December.

Millions KES. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Premiums & Annuity Revenue	26,349	25,401	20,734	14,703	13,939
Total Interest & Dividend Income	1,240	2,104	1,299	1,666	1,426
Gain (Loss) on Sale of Investments	184.92	-121.49	-4.97	149.42	-140.75
Other Revenue	311.9	369	223.53	2,146	1,521
Total Revenue	29,353	28,916	23,381	18,665	16,746
Revenue Growth (YoY)	1.51%	23.67%	25.27%	11.46%	-3.56%
Policy Benefits	26,005	24,613	21,288	10,529	9,955
Policy Acquisition & Underwriting Costs	-	-	-	2,480	2,159
Selling, General & Administrative	-	-	-	4,606	3,944
Provision for Bad Debts	1.41	3.03	-1.11	-4.34	-
Other Operating Expenses	1,725	1,451	1,318	137.08	118.47
Total Operating Expenses	27,731	26,067	22,610	17,754	16,172
Operating Income	1,622	2,849	771.24	911.14	573.84
Interest Expense	-578.2	-517.82	-440.31	-431.08	-441.5
Earnings From Equity Investments	1.52	-3.04	4.67	-	-7.31
Currency Exchange Gain (Loss)	1,365	82.57	191.76	398.31	82.98
Other Non Operating Income (Expenses)	573.1	0.74	14.15	56.26	-19.6
EBT Excluding Unusual Items	2,984	2,412	541.5	934.63	188.42
Asset Writedown	1,010	132.38	281.83	10.79	6.33
Other Unusual Items	-	-	-	14.3	-274.29
Pretax Income	3,994	2,544	823.34	959.71	-79.54
Income Tax Expense	1,139	1,102	666.2	291.28	217.29
Earnings From Continuing Ops.	2,855	1,442	157.14	668.44	-296.83
Minority Interest in Earnings	-138.23	56.14	-0.67	-79.06	63.92
Net Income	2,716	1,498	156.47	589.38	-232.91
Net Income to Common	2,716	1,498	156.47	589.38	-232.91
Net Income Growth	81.34%	857.37%	-73.45%	-	-
Shares Outstanding (Basic)	2,877	2,877	2,877	2,877	2,877
Shares Outstanding (Diluted)	2,877	2,877	2,877	2,877	2,877
EPS (Basic)	0.94	0.52	0.05	0.20	-0.08
EPS (Diluted)	0.94	0.52	0.05	0.20	-0.08
EPS Growth	81.34%	857.37%	-73.45%	-	-
Free Cash Flow	3,940	5,460	4,817	2,002	2,395
Free Cash Flow Per Share	1.37	1.90	1.67	0.70	0.83
Dividend Per Share	0.118	0.118	0.118	-	-
Operating Margin	5.53%	9.85%	3.30%	4.88%	3.43%
Profit Margin	9.25%	5.18%	0.67%	3.16%	-1.39%
Free Cash Flow Margin	13.42%	18.88%	20.60%	10.73%	14.30%
EBITDA	1,720	2,929	834.92	1,025	726.3
EBITDA Margin	5.86%	10.13%	3.57%	5.49%	4.34%
D&A For EBITDA	97.79	80.07	63.69	114.11	152.46
EBIT	1,622	2,849	771.24	911.14	573.84
EBIT Margin	5.53%	9.85%	3.30%	4.88%	3.43%
Effective Tax Rate	28.52%	43.33%	80.92%	30.35%	-
Revenue as Reported	-	-	-	19,168	16,836

Source: S&P Global Market Intelligence. Insurance template. Financial Sources.