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Kenya's CIC Insurance says H1 pretax profit rises 5 pct

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NAIROBI | Thu Aug 1, 2013 4:40am EDT

NAIROBI Aug 1 (Reuters) - Kenya's CIC Insurance posted a 5 percent rise in pretax profit for the first half of this year to 494 million shillings ($5.65 million), the company said on Thursday.

The company attributed the growth to higher gross premiums, which rose 17 percent from a year earlier, and increased investment income, which jumped by 14 percent.

The company expected "positive results" in the second half, thanks to a fairly stable macroeconomic environment, it said in a statement. ($1 = 87.4000 Kenyan shillings) (Reporting by Duncan Miriri; editing by Tom Pfeiffer)

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