This archive report was first published on 24 July 2020.
On July 24, 2020, CIC Group, a leading cooperatives insurer in Africa, settled a Sh. 32 million fire insurance claim in favour of Amica Sacco, a Muranga-based Sacco.
The claim arose from a fire incident in October 2019 that reduced a building owned by Amica Sacco to ashes, also housing Mathai Supermarket.
Speaking while handing over a cheque to the Sacco, outgoing CIC Ag Group CEO Mr Elijah Wachira reiterated the company's commitment to timely settlement of claims.
"CIC's spirit of the cooperative movement enables trickling down of financial services. One of the reasons CIC has been successful is because we keep our word by settling the claims on time," said Mr Wachira.
Mr Wachira added, "The fact that we are able to settle this huge claim at a time when businesses are reeling from the effects of the Covid-19 pandemic attests to our unwavering dedication to honour our obligations to clients."
Amica Sacco CEO, Mr James Mbui, lauded and expressed confidence in CIC for honouring the claim despite the huge amount involved.
"We thank CIC for honouring this claim and appreciate our business relationship which we wish to take to another level, by increasing our support in the other lines of business as they have proven to keep their word," said Mr Mbui.
