Shakira Shamim Mujuni has been appointed the new Chief Executive Officer of CIC General Insurance Uganda. Shakira joins CIC with over 10 years of experience in the insurance industry.
Shakira previously worked at Sanlam General Insurance Uganda as Deputy General Manager Commercial Business. Before this she held a position of underwriting Manager.
She also worked for Lion assurance as Underwriting Manager and Britam Insurance as Underwriting Supervisor. CIC rehires her, having worked for it in the past as their Business Development Manager Broking and leaving a trail of success.
Shakira holds a Bachelor’s in Actuarial Science from Makerere University Kampala, a Master’s in Business Administration from USW-UK, a Leadership training certification from USB, a Diploma in Insurance CII-UK and an ongoing DIU from ITC. Over the years, Shakira has gained knowledge in delivering solutions to complex situations and is well equipped to drive the success and growth of CIC General Insurance Uganda.
The CIC Group, is an insurance and investment group that operates mainly in Kenya, Uganda, South Sudan and Malawi.
CIC General insurance Uganda limited is a subsidiary of CIC Insurance Group. The company started as an insurance agency in 1968 within the Kenya National Federation of Co-operatives (KNFC). It was later licensed as a composite insurance company in 1978 to write all classes of business trading in the name of Cooperative Insurance Services Ltd (CIS).
In 1999, the company name was changed to The Co-operative Insurance Company of Kenya Ltd (CIC). The name change was part of the Company’s market repositioning strategy to completely transform from the then small company that only targeted the Co-operative movement to a respected insurer in the country.
In October 2010, the Company changed its name again to The CIC Insurance Group Ltd in preparation for the demerger of its life and general business operations.
By the end of 2011, the company had fully demerged resulting in the formation of CIC Life Assurance Ltd, CIC General Insurance Ltd and CIC Asset Management Ltd.
The CIC Insurance Group listed its shares by introduction at the Nairobi Securities Exchange on Thursday 19th July 2012.
The Group is the leading Micro and Co-operative insurance provider in Kenya with its subsidiaries involved in fund, and Asset Management, General Insurance, Health and Group & Individual Life, pension and annuities.
Key Statistics 2021 FY
There are 29 insurers, however, five players control half the market- UAP OLD MUTUAL, SANLAM, PRUDENTIAL, ICEA LION & JUBILEE ALLIANZ).
Top Insurers by Category
Medical: Top players: 80% market share (UAP OLD MUTUAL, JUBILEE, PRUDENTIAL & AAR)
Life: Top players: 80% market share (JUBILEE, ICEA LION, UAP OLD & PRUDENTIAL)
Property And Casualty: Top players: 58% market share (JUBILEE ALLIANZ, BRITAM, SANLAM & UAP OLD MUTUAL)
Motor: Top players: 46% market share (SANLAM, JUBILEE ALLIANZ, BRITAM & UAP OLD MUTUAL)