The CIC Insurance Group Cash Flow Statement

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

Millions KES. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	588.57	2,716	1,498	156.47	589.38
Depreciation & Amortization	182.65	177.24	156.49	140.82	189.49
Other Amortization	54.7	60.71	57.59	56.63	27.34
Gain (Loss) on Sale of Assets	0.15	-0.6	-	-	-
Gain (Loss) on Sale of Investments	-801.79	-227.47	44.05	-46.95	-133.71
Change in Accounts Receivable	-	-	-	-	-34.68
Reinsurance Recoverable	104.7	-1,325	-6.17	1,236	-345.65
Change in Unearned Revenue	-	-	-	-	153.63
Change in Insurance Reserves / Liabilities	10,827	7,572	5,195	4,395	863.19
Change in Other Net Operating Assets	-837.81	338.75	40.28	69.77	1,074
Other Operating Activities	-4,321	-4,234	-1,162	-848.36	-714.63
Operating Cash Flow	5,962	4,068	5,700	4,872	2,066
Operating Cash Flow Growth	46.53%	-28.63%	16.99%	135.88%	-14.98%
Capital Expenditures	-172.48	-128.23	-240.49	-55.69	-63.33
Sale of Property, Plant & Equipment	1.97	1.36	36.33	14.93	0.78
Purchase / Sale of Intangible Assets	-82.99	-49.34	-71.33	-31.91	-70.97
Investment in Securities	-6,258	-2,647	-5,805	-5,396	-1,317
Other Investing Activities	4,051	5,074	1,828	926.46	1,132
Investing Cash Flow	-2,461	2,250	-4,253	-4,543	-297.28
Long-Term Debt Issued	-	107.27	112.08	-	-
Total Debt Repaid	-114.49	-548.98	-167.24	-53.43	-78.44
Net Debt Issued (Repaid)	-114.49	-441.7	-55.16	-53.43	-78.44
Common Dividends Paid	-345	-345	-345	-	-
Financing Cash Flow	-459.49	-786.7	-400.16	-53.43	-78.44
Foreign Exchange Rate Adjustments	-145.22	-380.37	14.73	-115.27	-116.4
Net Cash Flow	2,896	5,152	1,062	161.1	1,574
Free Cash Flow	5,789	3,940	5,460	4,817	2,002
Free Cash Flow Growth	46.93%	-27.83%	13.35%	140.56%	-16.39%
Free Cash Flow Margin	17.36%	13.42%	18.88%	20.60%	10.73%
Free Cash Flow Per Share	2.11	1.37	1.90	1.67	0.70
Cash Interest Paid	717.02	42.93	37.02	232.31	23.08
Cash Income Tax Paid	743.06	975.95	813.58	787.71	319.97
Levered Free Cash Flow	-1,626	-5,840	1,711	-13,702	5,722
Unlevered Free Cash Flow	-1,311	-5,478	2,035	-13,427	5,991
Change in Working Capital	10,154	6,586	5,230	5,701	1,409

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