HARARE – Fidelity Life Assurance Zimbabwe has reported asset growth in the half year to 30 June 2026, with total assets rising to ZWG4.17 billion from ZWG3.98 billion as at 31 December 2025, underpinned by growth in investment property and financial assets, according to its interim unaudited condensed consolidated special purpose financial statements.
The Group’s investment property portfolio increased to ZWG1.6 billion from ZWG1.49 billion, generating fair value gains of ZWG71.9 million in the insurance business during the period. Financial assets at fair value through profit or loss grew to ZWG1.71 billion from ZWG1.69 billion. Total cash and deposits stood at ZWG139.2 million.
Insurance contract revenue was ZWG221.2 million compared to ZWG231.1 million in the prior comparative period. The Group recorded an insurance service loss of ZWG13.4 million against a profit of ZWG76.7 million in H1 2025, weighed by higher insurance service expenses of ZWG232.2 million.
Net investment income improved to ZWG198.1 million from ZWG174.3 million, driven by net income from financial instruments, fair value adjustments to investment properties and rental income. This lifted the net insurance and investment result to ZWG162.4 million.
Profit before tax was ZWG42.9 million, down from ZWG161 million in the prior year, while profit for the period was ZWG41.9 million compared to ZWG160.7 million in H1 2025. Profit attributable to owners of the parent was ZWG58.3 million. Basic and diluted earnings per share were 54.03 cents, down from 135.76 cents.
Total equity attributable to equity holders improved, with the ordinary shareholders’ deficit narrowing to ZWG200.1 million from ZWG249.3 million at year end. Total equity for the Group rose to ZWG136 million from ZWG103.2 million.
Borrowings declined to ZWG70.1 million from ZWG96.4 million, comprising facilities from AFC Bank, Nedbank and NBS Bank for the Vaka Yako housing development and asset financing. Trade and other payables rose to ZWG288.7 million.
The company declared a dividend of USD450,000 or USD0.0041 per share in respect of the 2025 financial year, which was paid during the period under review.
In terms of outlook, the company said the statements were prepared in line with IAS 34 and ZSE listing requirements, with the functional currency remaining United States Dollars, while presentation is in ZWG translated at the closing official rate of ZWG26.7698: USD 1.
