In this Photo (from left to right): CIC Life Assurance Ltd. Managing Director Mr. Meshack Miyogo, CARD MRI Founder and Chairman Emeritus Dr. Jaime Aristotle B. Alip, CARD MBA Chief Executive Officer Ms. Group Chairman Dr. Nelson Kuria, and CARD MBA Deputy Director for Admin and Finance Ms, Janet D.
Caneo.Jocelyn D. Dequito, CIC Insurance Group Chief Executive Officer Mr. Patrick Nyaga, CIC Insurance
CARD Mutual Benefit Association
(MBA), Inc., a member institution of the CARD Mutually Reinforcing Institutions (CARD MRI) and the
CIC Insurance Group Plc.
of Kenya, Africa, signed a
Memorandum of Understanding (MOU) on June
1, 2023, at the CARD MBA
Head Office, San Pablo
City, Laguna.
The MOU aims to
share knowledge and expertise on microinsurance
where both parties will
complement. CIC is the
largest insurance group in
Kenya, Africa, while CARD
MBA remains as the biggest mutual microinsurance in Philippines.
CARD MBA
shall support CIC with
the establishment of a
Microinsurance Academy,
operationalization of a Microinsurance Company,
and development of life
and non-life microinsurance products. On the other hand, CARD MBA shall
learn from CIC’s expertise on non-life insurance
and asset management.
Ultimately, a continuous
learning exchange program between the parties
shall be established.
The partnership
was conceptualized and
facilitated during the two
parties’ attendance to the
100th year anniversary
celebration of the International Cooperative and
Mutual Insurance Federation (ICMIF) Foundation
spearheaded by its President, Mr. Sabbir Patel in
Rome, Italy.
The MOU shall
be in effect for three years
(2023-2026) and shall be
renewed based on mutual
agreement of the parties.
