The CIC Insurance Group Plc

NASE:CIC Stock Report

Market Cap: KSh5.9b

CIC Insurance Group Management

Management criteria checks 3/4

CIC Insurance Group's CEO is Patrick Nyaga, appointed in Jan 2020, has a tenure of 4.33 years. total yearly compensation is KES63.67M, comprised of 68.8% salary and 31.2% bonuses, including company stock and options. directly owns 1.01% of the company’s shares, worth KES59.68M. The average tenure of the management team and the board of directors is 5.3 years and 3.7 years respectively.

Key information

Patrick Nyaga

Chief executive officer


Total compensation

CEO salary percentage68.8%
CEO tenure4.3yrs
CEO ownership1.0%
Management average tenure5.3yrs
Board average tenure3.7yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Patrick Nyaga's remuneration changed compared to CIC Insurance Group's earnings?
DateTotal CompensationSalaryCompany Earnings
Jun 30 2023n/an/a


Mar 31 2023n/an/a


Dec 31 2022KSh64mKSh44m


Sep 30 2022n/an/a


Jun 30 2022n/an/a


Mar 31 2022n/an/a


Dec 31 2021KSh59mKSh44m


Sep 30 2021n/an/a


Jun 30 2021n/an/a


Mar 31 2021n/an/a


Dec 31 2020KSh97mKSh23m


Compensation vs Market: Patrick's total compensation ($USD487.43K) is above average for companies of similar size in the KE market ($USD335.62K).

Compensation vs Earnings: Patrick's compensation has been consistent with company performance over the past year.


Patrick Nyaga (55 yo)





Mr. Patrick Nyaga serves as Group Chief Executive Officer at The CIC Insurance Group Plc (formerly known as CIC Insurance Group Limited) since 2020 and serves as its Executive Director since September 29,...

Leadership Team

Patrick Nyaga
Group CEO & Executive Director4.3yrsKSh63.67m1.01%
KES 59.7m
Philip Kimani
Group Chief Finance Officerno datano datano data
Henry Malmqvist
Group Chief Information Officer8.6yrsno datano data
Pamela Oyugi
General Manager of Human Resource & Administration7.3yrsno datano data
Gail Odongo
Group Company Secretary & Chief Legal Officerno datano datano data
Susan Robi
Group Risk & Compliance Managerno datano datano data
Joseph Kamiri
General Manager of Marketing & Customer Experienceno datano datano data
Fred Ruoro
Managing Director of CIC General Insurance Limitedno datano datano data
Andrew Murunga
Managing Director of CIC Africa Insurance (SS) Limitedno datano datano data
Chrispinus Mugwang'a
Managing Director of CIC Africa Co-operatives Insurance Ltd5.3yrsno datano data
Meshack Miyogo
Managing Director of CIC Life Assurance Ltd2.8yrsno datano data
Erick Obila
Managing Director of CIC Africa (Uganda) Limitedno datano datano data


Average Tenure


Average Age

Experienced Management: CIC's management team is seasoned and experienced (5.3 years average tenure).

Board Members

Patrick Nyaga
Group CEO & Executive Director3.7yrsKSh63.67m1.01%
KES 59.7m
Gordon Owuor
Non-Executive Director18yrsKSh3.92m0.010%
KES 593.8k
Nelson Kuria
Group Independent Chairman3.7yrsKSh6.77m0.60%
KES 35.4m
Michael Wambia
Non-Executive Director16yrsKSh3.68m0.0014%
KES 81.2k
Peter Nyigei
Non-Executive Director15yrsKSh3.70m0.00046%
KES 27.1k
James Njiru
Group Non-Executive Vice Chairman8yrsKSh6.07m0.0018%
KES 108.3k
Julius Mwatu
Independent Non-Executive Director3.1yrsKSh2.95mno data
Rogers Kinoti
Independent Non Executive Director2.8yrsKSh2.92m0.0020%
KES 117.7k
Sharon Kisire
Independent Director1.7yrsKSh1.20mno data


Average Tenure


Average Age

Experienced Board: CIC's board of directors are considered experienced (3.7 years average tenure).

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