This archive report was first published on 18 June 2020.
Kenyan insurance giant CIC Insurance Group has postponed its annual general meeting (AGM) scheduled for June 30, 2020, at 10:00 am. The new date will be announced in due course.
The decision was made by the CIC board, which resolved to hold the AGM during the third quarter of 2020. This move will enable the company to cover all necessary business and avoid holding another general meeting soon after the AGM.
According to CIC, the postponement is necessary to allow the company to pursue new developments in its business that require shareholder approval within the next three months. The company has sought and obtained the approval of the registrar of companies for the extension of time of holding the AGM beyond June 30, 2020.
Patrick Nyaga, who was appointed as the Group Chief Executive Officer on June 22, 2020, will lead the company through this transition. Nyaga has been a director on the CIC Board for the past nine years.
CIC Group handles asset management, general insurance business, and life assurance in Kenya, with a presence in South Sudan, Malawi, and Uganda.
