Kenya’s CFC Insurance Says its Posts a First-Half Profit of $4 Million

CFC Insurance Holding Ltd., a unit of Kenya’s CFC Stanbic Holding Ltd., reported first half profit rose 73 percent amid an increase in total income.

Net income climbed to 334.5 million shillings ($3.57 million) in the six months to June 30, compared with $193.2 million shillings a year earlier, the company said today in a statement published in the Nairobi-based Daily Nation.

Total income grew to 2.13 billion shillings from 1.38 billion shillings the previous year, the Nairobi-based company said.

CFC Insurance, which owns CFC Life Assurance Ltd. and Heritage Insurance Co. was listed on the Nairobi Stock Exchange April 21, Kenya’s first initial public offering in 28 months.

To contact the reporter on this story: Eric Ombok in Nairobi at eombok@bloomberg.net

To contact the editor responsible for this story: Tim Smith at tsmith58@bloomberg.net

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