Nairobi, April 24 -- CIC Insurance Group has resumed interest payment on a Sh4.5 billion loan owed to Co-operative Bank of Kenya following the expiry of a repayment break that was granted in the wake of Covid-19 pandemic disruptions.

The insurer discloses in its latest annual report that it, last year, paid Sh200 million to Co-op Bank as interest on the five-year loan, after the moratorium that started in 2021 lapsed in October 2022.

"The company obtained a moratorium of repayment of interest until October 2022. An interest repayment of Sh200 million was made during the year," said CIC.

The loan, with an initial value of Sh4.5 billion in 2019 when CIC took it to help repay its corporate bond, was worth the same amount as of December 20...