Naivas Supermarket has received KSh134 million from CIC Insurance Group as compensation for losses incurred during last year’s Gen-Z protests.
CIC Insurance confirmed the payout, describing it as one of the largest political violence insurance settlements in Kenya. The compensation followed extensive damage and losses reported at several Naivas outlets affected during the unrest.
CIC Insurance Managing Director Fredric Ruoro said the claim was thoroughly assessed before approval.
“We established the magnitude of the claim was KSh134 million,” Ruoro stated.
The insurer noted that the payment was made under its political violence and terrorism cover after verifying the extent of the reported losses.
Naivas Chief Executive Officer Andreas Paleske welcomed the settlement, saying the retailer partners with strong insurance providers to safeguard its operations against unforeseen risks.
The payout is expected to bolster Naivas’ recovery efforts and support the restoration of outlets damaged during the protests.
