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CIC earnings tumble 96 percent on high life claims

The company could register a major windfall if its efforts to sell a total of 712 acres succeed. FILE PHOTO | NMG

By  Victor Juma

Business Editor

Nation Media Group

Major losses in the life insurance business pulled CIC Group’s #ticker:CIC net profit down 96 percent in the half year ended June.

The company’s net earnings stood at Sh20.9 million in the review period compared to Sh537 million the year before.

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Note: The results are not exact but very close to the actual.

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