Fidelity Life Assurance (Fidelity) says rising geopolitical tensions and economic uncertainty are driving stronger demand for life insurance, pensions and funeral products as households seek greater financial security.
The insurer said changing consumer priorities supported strong growth during the year ended 31 December 2025, with more customers taking up products designed to protect families against financial shocks.
“The Life and Pensions business, guided by its Cradle to Grave philosophy, strategically positioned itself to meet the growing demand for solutions that offer comfort and assurance for the future,” Fidelity chairman Livingstone Gwata said in the company’s 2025 annual report.
Insurance contract revenue rose 46 percent to US$16,65 million from US$11,43 million in the previous year, supported by organic growth and sustained demand across the group’s product portfolio.
Funeral services remained Fidelity’s largest source of revenue, benefiting from continued demand for burial services and premium funeral packages.
The Zimbabwe life and pensions business strengthened its contribution, accounting for 78 percent of insurance contract revenue during the year, up from 76 percent in 2024. Malawi contributed the remaining 22 percent.
Fidelity also expanded its actuarial services business as part of efforts to diversify income. The unit broadened its regional footprint through Zimre Holdings’ reinsurance business while introducing banking-related actuarial services and specialist advisory solutions.
The company said technology investments had improved efficiency and reduced turnaround times, strengthening the division’s competitiveness.
Meanwhile, Fidelity is sharpening its focus on its core insurance business after receiving regulatory approval to complete its asset separation exercise.
Under the restructuring, the group’s micro-lending and asset management businesses will be transferred to shareholders in exchange for immovable property.
“The separation will allow policyholders to fully exercise and benefit from their investment rights, thereby supporting long-term capital formation and improved asset liability alignment,” Gwata said.
He said the restructuring would strengthen Fidelity’s balance sheet, reduce potential conflicts of interest and allow the business to focus on expanding its insurance operations.