CIC Insurance : AGM Questions and Responses

CIC INSURANCE GROUP PLC - 45TH ANNUAL GENERAL MEETING

Date: 7th June 2024

Time: 10:00 a.m. EAT

SHAREHOLDERS QUESTIONS AND RESPONSES

These were the questions that were received prior and during the AGM, and the responses.

NO	QUESTION	RESPONSE
		Thank you for your question. The current share price as at 28th May 2024 is ksh 2.27. Thank
1	What is the current share price?	you
		Thank you for participating in this year's AGM. Please contact the share registrar through
		[e-mail] or call 0711049237 to update your mode of payment through
2	Dividends via Mpesa	Mpesa.
		Thank you for your observation. The declared dividend was informed by the performance of
	what informed the declaration of	the business also considering that this is a transition year from IFRS 4 to IFRS 17 reporting
	dividend given that the financial	standard. One of the key business focus remains ensuring that all our businesses are
3	performance increased	adequately capitalized.
		Thank you for question, the company has declared a dividend of KShs 0.13 per share held for
4	how do calculate your dividend	the year ended 31/12/2023 and to be paid on or about 8th July 2024
		Thank you for your question and participating in this year's AGM. The current share price as at
5	How much are these 120 shares worth	29th May 2024 is Ksh 2.27 per share and you hold 120 shares.
	l have never received any dividend for	Thank you for the question. For dividends, please contact the share registrar through
6	several years what's happening?	[e-mail]- opbank.co.ke or call 0711049237 for assistance.
		Thank you for question, the company has declared a dividend of KShs 0.13 per share for the
7	How much is the divided this year	year ended 31/12/2023 and to be paid on or about 8th July 2024
		Thank you for question, The company has declared a dividend of KShs 0.13 per share for the
8	what percentage is per share	year ended 31/12/2023 and to be paid on or about 8th July 2024
		Thank you for participating in this year's AGM. Please contact the share registrar through
		[e-mail] or call 0711049237 to update your mode of payment through
9	Kindly pay to my Mpesa line	Mpesa.

CIC Insurance Group Plc AGM Questions and Responses 5th May 2023

		Thank you for participating in this year's AGM. Please contact the share registrar through
		[e-mail] or call 0711049237 to update your mode of payment through
10	Is Mpesa okay?	Mpesa.
	I have not received my dividends for a
	number of years... What has been	Thank you for the question. For dividends, please contact the share registrar through
11	happening?	[e-mail]- opbank.co.ke or call 0711049237 for assistance.
	I have not received my dividends for a
	number of years... What has been	Thank you for the question. For dividends, please contact the share registrar through
12	happening?	[e-mail]- opbank.co.ke or call 0711049237 for assistance.
		Thank you for question. The company has declared a dividend of KShs 0.13 per share for the
13	how much dividend is to be paid	year ended 31/12/2023 and to be paid on or about 8th July 2024
		Thank you for participating in this year's AGM. Please contact the share registrar through
	I wish to receive my dividends via Mpesa	[e-mail] or call 0711049237 to update your mode of payment through
14	how do I register	Mpesa.
		Thank you for participating in this year's AGM. Please contact the share registrar through
	How to get dividends payment via	[e-mail] or call 0711049237 to update your mode of payment through
15	Mpesa	Mpesa.
16	Sh/share	Thank you for question, we advise that you hold 7,500 shares
	I have not received dividend shares for	Thank you for the question. Please contact the share registrar through [e-mail]-
17	almost 10 years.	opbank.co.ke or call 0711049237 for assistance with your dividend payment.
	I am yet to receive dividend shares for	Thank you for the question. Please contact the share registrar through [e-mail]-
18	almost 10 years now.	opbank.co.ke or call 0711049237 for assistance with your dividend payment.
		Thank you for your question. Please note that you are required to contact your stockbroker in
19	If I want to sell them what should I do	order to trade (BUY/SELL) shares.
		Thank you for question and participating in this year's AGM. The company has declared a
		dividend of KShs 0.13 per share for the year ended 31/12/2023 and to be paid on or about 8th
20	how much are you paying	July 2024
		Thank you for your question. As part of continuous improvement we will continue to assess
		the need for physical / virtual/ Hybrid meetings. This will be taking into account the emerging
21	what happened to physical meetings?	trends and various stakeholders needs. Thank you

CIC Insurance Group Plc AGM Questions and Responses 5th May 2023

		Thank you for the question. Please contact the share registrar through [e-mail]-
22	when did i get the dividend payment	opbank.co.ke or call 0711049237 for assistance with your dividend payment.
		Thank you for participating in this year's AGM. Please contact the share registrar through
	please send payment to this	[e-mail] or call 0711049237 to update your mode of payment through
23	number,0721715977	Mpesa
		Thank you for your question. The total dividend is a factor of the total number of shares held
		multiplied by the declared dividend rate per share. For the year ended 2023, the company has
	how are annual dividends calculated,	declared a dividend of ksh0.13 per share to be paid on or around 8th July 2024 as per your
24	and how does one receive them	preferred mode of payment
		Thank you for your question and participating in this year's AGM. We will look into ways of
25	gift to compliment dividend	accommodating the same as we take cognizance of emerging trends.
		Thank you for your question and participating in this year's AGM. We will look into ways of
26	compliment dividend with gift	accommodating the same as we take cognizance of emerging trends.
		Thank you for your question. The Group has in place a 5-year(2021-2025) Strategy. This
	What is the management team has in	strategy is underpinned by 12 pillars whose objective is to sustainably and profitably grow our
	place to improve in the dividend came	business. With continued growth of our profitability we expect to further improve shareholder
27	next year..	returns.
		Thank you for your question. The Group has in place a 5-year(2021-2025) Strategy. This
		strategy is underpinned by 12 pillars whose objective is to sustainably and profitably grow our
	How will the board ensure an increase in	business. With continued growth of our profitability we expect to further improve shareholder
28	dividend come next year.	returns.
		Thank you for question and participating in this year's AGM. The company has declared a
		dividend of KShs 0.13 per share for the year ended 31/12/2023 and to be paid on or about 8th
29	when do I get dividends?	July 2024
		Thank you for participating in this year's AGM. Please contact the share registrar through
		[e-mail] or call 0711049237 to update your mode of payment through
30	can dividend be paid by Mpesa	Mpesa
	have you paid dividends for the last 5	Thank you for the question. Please contact the share registrar through [e-mail]-
31	years	opbank.co.ke or call 0711049237 for assistance with your dividend payment.

CIC Insurance Group Plc AGM Questions and Responses 5th May 2023

	have you paid dividends for the last 5	Thank you for the question. Please contact the share registrar through [e-mail]-
32	years	opbank.co.ke or call 0711049237 for assistance with your dividend payment.
33	None	Thank you for participating in this year's AGM.
		Thank you for your question. The profit after tax for the year ended December 2023 was Ksh
	What's the profit after tax and what	1.4 B. The company has declared a dividend of KShs 0.13 per share for the year ended
34	should we expect as dividend?!	31/12/2023 and to be paid on or about 8th July 2024
	Can you create a webinar for new and
	young stakeholders that wish to learn	Thank you for the proposal. This will be reviewed for consideration factoring in various
35	more about dividends?	stakeholder dynamics.
		Thank you for question and participating in this year's AGM. The company has declared a
		dividend of KShs 0.13 per share for the year ended 31/12/2023 and to be paid on or about 8th
36	Dividends	July 2024
		Thank you for question and participating in this year's AGM. The company has declared a
		dividend of KShs 0.13 per share for the year ended 31/12/2023 and to be paid on or about 8th
37	Are you paying dividend	July 2024
		Thank you for question and participating in this year's AGM. The company has declared a
		dividend of KShs 0.13 per share for the year ended 31/12/2023 and to be paid on or about 8th
38	when should dividend payment	July 2024
		Thank you for the question. Please contact the share registrar through [e-mail]-
39	I hardly get my dividend	opbank.co.ke or call 0711049237 for assistance with your dividend payment.
		Thank you for question and participating in this year's AGM. The company has declared a
		dividend of KShs 0.13 per share for the year ended 31/12/2023 and to be paid on or about 8th
40	when are dividends due?	July 2024
		Thank you for your observation. The declared dividend was informed by the performance of
	Why did we get the same dividend even	the business also considering that this is a transition year from IFRS 4 to IFRS 17 reporting
	with the good profits for the year	standard. One of the key business focus remains ensuring that all our businesses are
41	ended?	adequately capitalized.

CIC Insurance Group Plc AGM Questions and Responses 5th May 2023

		Thank you for query, the company has declared a dividend of KShs 0.13 per share for the year
42	where are dividents?	ended 31/12/2023 and to be paid on or about 8th July 2024
		Thank you for the question. We have sold over 70% of phase 1 and following obtaining all
43	Update on Tatuu City plot?	approvals have commenced sale of phase 2.
		Thank you for your question. The CIC Group Plc leadership has been keen to provide a
		consistent dividend to shared holders. Having achieved this for 2 years and this being a
		transition year from IFRS 4 to IFRS 17 reporting standard, going forward other options
44	When will there be a bonus	including bonus share will be considered.
		Thank you for participating in this year's AGM. Please contact the share registrar through
45	How are the dividends paid	[e-mail] or call 0711049237 to update your mode of dividend payment.
		Thank you for participating in this year's AGM. Please contact the share registrar through
46	can it be paid	[e-mail] or call 0711049237 to update your mode of dividend payment.
		Thank you for participating in this year's AGM. Please contact the share registrar through
		[e-mail] or call 0711049237 to update your mode of dividend payment
47	Can the dividend be laid through mpesa	through Mpesa.
		Thank you for participating in this year's AGM. Please contact the share registrar through
48	How do you get paid ?	[e-mail] or call 0711049237 to update your mode of payment.
		Thank you for participating in this year's AGM. Please dial *483*484* to access the AGM
49	AGM reports	report
		Thank you for question and participating in this year's AGM. The company has declared a
		dividend of KShs 0.13 per share for the year ended 31/12/2023 and to be paid on or about 8th
50	Dividend	July 2024
		Thank you for question and participating in this year's AGM. The company has declared a
		dividend of KShs 0.13 per share for the year ended 31/12/2023 and to be paid on or about 8th
51	When is the date for dividend payout	July 2024

CIC Insurance Group Plc AGM Questions and Responses 5th May 2023

		Thank you for question and participating in this year's AGM. The company has declared a
		dividend of KShs 0.13 per share for the year ended 31/12/2023 and to be paid on or about 8th
52	my annual dividends?	July 2024
		The 2023 annual report can be accessed on our website via this link:
		https://www.cicinsurancegroup.com/wp-content/uploads/2024/06/CIC-Annual-Integrated-
53	can receive the audited reports?	Report_2023_web.pdf
	How do I know how much dividends I've	Thank you for the question. Please contact the share registrar through [e-mail]-
54	accumulated since buying stock	opbank.co.ke or call 0711049237 for assistance with your dividend payment.
	how do I know how many dividends I'm
	getting, a way I can get a statement	Thank you for the question. Please contact the share registrar through [e-mail]-
55	showing those details	opbank.co.ke or call 0711049237 for assistance with your dividend payment.
	dividends concerns: About the
	dividends: what happened of late; no	Thank you for the question. Please contact the share registrar through [e-mail]-
56	dividends!	opbank.co.ke or call 0711049237 for assistance with your dividend payment.
		Thank you for your question. Non-Independent Directors retire after their specific term of
		three years and can offer themselves for re-election if under 70 years. Independent Directors
57	Term of tenure for director	can only serve for two terms - three years each.
		Thank you for question and participating in this year's AGM. The company has declared a
		dividend of KShs 0.13 per share for the year ended 31/12/2023 and to be paid on or about 8th
58	when will the dividends paid	July 2024
		Thank you for question and participating in this year's AGM. The company has declared a
		dividend of KShs 0.13 per share for the year ended 31/12/2023 and to be paid on or about 8th
59	payment of dividends	July 2024
	Thank you Mr chairman. Some of us are	Thank you for your question. The Group has in place a 5-year(2021-2025) Strategy. This
	aged, this 13 cents don't make sense.	strategy is underpinned by 12 pillars whose objective is to sustainably and profitably grow our
	Since CIC made profit, couldn't this be	business. With continued growth of our profitability we expect to further improve shareholder
60	adjusted to 20cts?	returns.
		Thank you for participating in this year's AGM. Please contact the share registrar through
61	Submission of details	[e-mail] or call 0711049237 to update your mode of dividend payment.
		Thank you for question and participating in this year's AGM. The company has declared a
		dividend of KShs 0.13 per share for the year ended 31/12/2023 and to be paid on or about 8th
62	When is the dividend getting paid?	July 2024

CIC Insurance Group Plc AGM Questions and Responses 5th May 2023

		Thank you for participating in this year's AGM. Please contact the share registrar through
63	how does one get her dividend	[e-mail] or call 0711049237 to update your mode of dividend payment.
64	N/A	Thank you for participating in this year's AGM.
	I have been a shareholder for the last
	three years but the return aren't good at
	all. What is the plan by the directors and
	management team to ensure we get	Thank you for your question. The Group has in place a 5-year(2021-2025) Strategy. This
	return on investment as well as capital	strategy is underpinned by 12 pillars whose objective is to sustainably and profitably grow our
	gains because shares get diluted	business. With continued growth of our profitability we expect to further improve shareholder
65	everyday. Regards	returns.
		Thank you for question and participating in this year's AGM. The company has declared a
	Are you paying dividends this year and	dividend of KShs 0.13 per share for the year ended 31/12/2023 and to be paid on or about 8th
66	at what rate?	July 2024.
		Thank you for your question. Our Board of Directors vacancies are publicly advertised as at
	How do I present myself for election as	when they arise. In on-boarding of directors we are guided by the Insurance Act section 27a
67	director	which stipulates the qualifications to become a director.
		Thank you for participating in this year's AGM. Please contact the share registrar through
68	l never receive my dividend	[e-mail] or call 0711049237 to update your mode of dividend payment.
	Thank the management for good job
	despite of harsh climate. I pledge to the
	board to consider shareholders who
	register n vote for the AGM to meet the
	quorum Most we struggle to fuliza to	Thank you for the compliment. We have noted your proposal for review and consideration by
69	streamline live thank you	the leadership. Thank you
		Thank you for the question. For dividends, please contact the share registrar through
70	l don't get my dividers ever why	[e-mail]- opbank.co.ke or call 0711049237 for assistance.
		Thank you for the question. For dividends, please contact the share registrar through
71	l don't get my dividend ever	[e-mail]- opbank.co.ke or call 0711049237 for assistance.

CIC Insurance Group Plc AGM Questions and Responses 5th May 2023

		Thank you for the question. For dividends, please contact the share registrar through
72	why don't l get my dividend ever	[e-mail]- opbank.co.ke or call 0711049237 for assistance.
		Thank you for question. The company has declared a dividend of KShs 0.13 per share for the
73	How much is dividend	year ended 31/12/2023 and to be paid on or about 8th July 2024. Thank you
		Thank you for participating in this year's AGM. Please contact the share registrar through
		[e-mail] or call 0711049237 to update your mode of payment through
74	pay my dividend on my mpesa	Mpesa.
		Thank you for question. The company has declared a dividend of KShs 0.13 per share for the
75	how much divided are you giving	year ended 31/12/2023 and to be paid on or about 8th July 2024. Thank you
		Thank you for question. The company has declared a dividend of KShs 0.13 per share for the
76	Why no dividend?	year ended 31/12/2023 and to be paid on or about 8th July 2024. Thank you
		Thank you for the question. For dividends, please contact the share registrar through
77	I dont get dividend	[e-mail]- opbank.co.ke or call 0711049237 for assistance.
		Thank you for question. The company has declared a dividend of KShs 0.13 per share for the
78	dividend ni ngapi?	year ended 31/12/2023 and to be paid on or about 8th July 2024. Thank you
		Thank you for question. The company has declared a dividend of KShs 0.13 per share for the
79	Sh/share	year ended 31/12/2023 and to be paid on or about 8th July 2024. Thank you
		Thank you for participating in this year's AGM. Please contact the share registrar through
		[e-mail] or call 0711049237 to update your mode of payment to either
80	Mode of payment	bank, Mpesa or cheque.
		Thank you for participating in this year's AGM. Please contact the share registrar through
		[e-mail] or call 0711049237 to update your mode of payment to either
81	how do you pay	bank, Mpesa or cheque.

CIC Insurance Group Plc AGM Questions and Responses 5th May 2023

		Thank you for participating in this year's AGM. Please contact the share registrar through
		[e-mail] or call 0711049237 to update your mode of payment through
82	Can div. be paid on Mpesa	Mpesa.
		Thank you for question. The company has declared a dividend of KSh 0.13 per share for the
		year ended 31/12/2023 and to be paid on or about 8th July 2024. Please contact the share
		registrar through [e-mail]- opbank.co.ke or call 0711049237 for assistance. Thank
83	why are we not paid dividends please	you
	Can shareholder be given a chance to
	own some of the plots under sale at a	Thank you for your question. No we do not have a special price for shareholders. The purchase
84	discounted rates?	price is however very reasonable starting at Kshs 9 Million for a 1/4 acre.
		Thank you for participating in this year's AGM. Please contact the share registrar through
		[e-mail] or call 0711049237 to update your mode of payment through
85	can l get my dividend through mpesa.	Mpesa.
		Your question is well noted. We will look into ways of accommodating the same as we take
86	GIFTS FOR SHAREHOLDERS PLEASE	cognizance of emerging trends.
	Is Thea a dividend in the years financial	Thank you for question. The company has declared a dividend of KSh 0.13 per share for the
87	reports.	year ended 31/12/2023 and to be paid on or about 8th July 2024.
		Thank you for your question. Emerging trends have continued to guide on the modalities of
	Could you be having intentions to hold	conducting the AGMs. As part of continuous improvement we will continue to assess the need
88	hybrid meeting for the shareholders	for physical / virtual/ Hybrid AGMs.
	Why do we have this resolution carrying
	two separate agendas? "Approve	Thank you for your question. The agenda items for the appointment of PwC as auditors and
	appointment of PwC as auditors of the	the authorization for directors to determine the auditors' remuneration are inherently related.
	company and to authorize Directors to	Consequently, these items have been combined into a single resolution to streamline the
89	fix their remuneration"	decision-making process.
	May we be notified via SMS when	Thank you for participating in this year's AGM. Please visit our share registrar Co-operative
90	dividends are paid.	Custody or reach them through [e-mail] / 0711049234 for the assistance
		Thank you for your question. The 2023 annual report can be accessed on our website via this
	Where can we get audited report? The	link: https://www.cicinsurancegroup.com/wp-content/uploads/2024/06/CIC-Annual-
91	hard copy	Integrated-Report_2023_web.pdf

CIC Insurance Group Plc AGM Questions and Responses 5th May 2023

	ARE WE GOING TO BE GIVEN GIFT PACKS
	OR EVEN DATA BUNDLES FOR	Thank you for your question. We will look into ways of accommodating the same as we take
92	ATTENDING THE MEETING NO	cognizance of emerging trends.
		Thank you for your question. The CIC Group Plc leadership has been keen to provide a
		consistent dividend to shared holders. Having achieved this for 2 years and this being a
	Dividend not impressive why not	transition year from IFRS 4 to IFRS 17 reporting standard, going forward other options
93	considered bonus instead of dividend	including bonus share will be considered.
	What is ESG as mentioned by the Chair	Thank you for your question. ESG stands for Environmental, Social and Governance which is a
94	in his speech? Thank you.	criteria used to report on sustainability.
		Thank you for your question. The Group has in place a 5-year(2021-2025) Strategy. This
		strategy is underpinned by 12 pillars whose objective is to sustainably and profitably grow our
	What other investment does the board	business. The Group has in place a robust investment framework that informs the investment
	engage in to improve on the dividend	decisions to ensure optimal returns. With continued growth of our profitability we expect to
95	share out in the next financial year..	further improve shareholder returns.
	Mr. Chairperson, your statement and
	report is very rich in what CIC is doing to
	the general public. While I consider the
	public of great important in the business
	of CIC, I cannot miss to notice the very
	low returns on shares paid to
	shareholders, who are the most
	important stakeholders of the business.
	What is your team doing to increase
	these returns? We would greatly	Thank you for the compliments. The Group has in place a 5-year(2021-2025) Strategy. This
	appreciate a dividend payout of over	strategy is underpinned by 12 pillars whose objective is to sustainably and profitably grow our
	kshs. 1.00 coming financial year. thank	business. With continued growth of our profitability we expect to further improve
96	you.	shareholder returns.

CIC Insurance Group Plc AGM Questions and Responses 5th May 2023