Fidelity Life Assurance of Zimbabwe Limited’s profit surged 358 percent to US$7.87 million in the year ended December 31, 2025, as the insurer benefited from higher insurance revenue and strong investment gains.
The company reported a profit of US$1.72 million in the previous year.
The strong performance came as the group completed a regulatory asset separation exercise that saw its micro-lending and asset management businesses transferred to its shareholder.
The exercise streamlined the group’s operations and allowed the insurance business to focus on its core operations.
Insurance contract revenue rose 46 percent to US$16.65 million from US$11.43 million, while the insurance service result increased 134 percent to US$5.48 million.
Net investment income more than doubled to US$22.07 million from US$8.92 million, supported by fair value gains on financial assets, particularly in Malawi.
Total income increased to US$77.81 million from US$26.04 million.
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The board declared a final dividend of US$450,000, a 50 percent increase from the previous year.
In its 2025 annual report, the group said the asset separation exercise was a key milestone that had “streamlined operations, ring-fenced policyholder assets, and positioned the core insurance business for focused, sustainable long-term growth.”
Fidelity Life chief executive officer, according to the report, said the group’s strategy was focused on expanding access to financial services and deepening its impact in underserved markets.
The company launched Fidelity Flexi Combo, an assurance product that provides a cash benefit instead of traditional funeral services, while its Vaka Yako product continued to link long-term savings with homeownership.
The group’s Malawian subsidiary, Vanguard Life Assurance, also recorded strong growth, with total income rising 817 percent to US$49.77 million.
Fidelity Life said it was exploring artificial intelligence to improve operational efficiency and planned to expand into diaspora and other African markets.
The group also increased its workforce by 14 percent to 260 employees and maintained a 3.5 percent market share, with a target of reaching 5 percent by 2027.
The company said its future strategy would focus on financial inclusion, technology and investments capable of protecting and growing wealth over the long term.
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