Fidelity Life Assurance of Zimbabwe has reported a 14% increase in profit for the half year ended 30 June 2025 underpinned by stronger investment income and improved insurance performance despite persistent economic challenges.
The group’s profit rose to US$6 million up from US$5.2 million in the same period last year
In Zimbabwe Gold (ZWG) terms profit stood at ZWG161.8 billion up from ZWG141.4 billion in 2024
Insurance contract revenue grew 5% to US$8.6 million (ZWG232.7 billion) with the insurance service result improving 45% to US$2.9 million largely due to reduced claims expenses and cost management.
Fidelity Life also recorded significant gains from investments including fair value adjustments on its property portfolio and financial assets particularly from its Malawi operations.
Investment property values rose to US$53.1 million (ZWG1.43 trillion) reflecting increased demand for real estate.
The group’s total assets climbed to US$105 million (ZWG2.83 trillion) while shareholder equity improved to US$6.6 million (ZWG177.8 billion) from a deficit last year signalling a stronger balance sheet.
However, the board opted not to declare an interim dividend saying resources would be redirected to strategic investments and operational efficiency.
Chairman Livingstone Gwata said the company was focusing on customer excellence, innovation and digitalisation with initiatives such as mobile service booths in informal markets and expanded funeral parlours in satellite towns.
Fidelity also highlighted growth in microinsurance and medical aid products aimed at underserved communities.
Looking ahead, the insurer warned of challenges from inflationary pressures, potential de-dollarisation and “copycat products”, but said it would continue expanding in new markets, including the diaspora.
