Fidelity finalises asset separation exercise
SAMANTHA MADE
Fidelity Life Assurance (FLA) is on the verge of finalizing its asset separation exercise, a critical step designed to enhance the company’s solvency, operational efficiency, and compliance with regulatory mandates. The update was revealed by the company’s secretary, Ruvimbo Chidora, in a trading update for the first quarter ending March 31, 2025.
Chidora confirmed that the restructuring initiative is approaching completion, underscoring its significance in helping FLA manage risk more effectively and align with evolving regulatory requirements.
“The asset separation exercise is expected to be concluded shortly,” she said. “Its conclusion will bring about improved solvency, operational efficiencies and policyholder protections, ensuring that FLA continues to meet its regulatory obligations while managing its risks effectively.”
This strategic realignment comes as FLA adapts to rapid changes in the life insurance sector, driven by demographic shifts and evolving consumer expectations. In response, the insurer is harnessing the power of its brand and data analytics to develop tailored insurance solutions that emphasize financial security and long-term planning.
“As we look towards the future, FLA remains committed to navigating the evolving landscape of the life insurance industry,” said Chidora. “Using its data and brand strength, FLA is developing customised insurance products to meet the shifting demographic needs that prioritise financial security and long-term planning.”
With the anticipated gains in solvency and operational agility, FLA is poised to deliver greater value to its policyholders while maintaining a strong regulatory posture. The company’s sharpened focus on innovation and customer-centricity is set to open new avenues for growth and competitiveness in a rapidly evolving market.
Beyond the core insurance business, Chidora also highlighted significant progress in FLA’s funeral services division, describing it as a growing pillar of the company’s diversified portfolio.
“The acquisition of the new fleet marks a significant milestone for the funeral services business, signalling the expansion of operations and bolstering of revenue,” she said.
FLA’s funeral services arm has introduced a premium funeral home to cater to the executive market and expanded its footprint into Chinhoyi, Mutare, and Victoria Falls. This expansion aligns with the company’s broader strategy of scaling high-demand services while reaching underserved communities.
“Other key developments include the launch of an executive funeral home to serve the premium market segment, as well as expanding our presence into Chinhoyi, Mutare and Victoria Falls,” Chidora said.
In a bid to support families during difficult times, FLA has also rolled out an affordable burial package branded “bury now, pay later,” which allows customers to defer payments while securing funeral services upfront.
“Additionally, the introduction of a low-cost burial package, ‘bury now, pay later’, underscores our commitment to being a lifelong partner especially during times of need,” she added.
With its twin focus on strategic restructuring and service innovation, FLA is emerging as a more resilient and responsive insurer—well-equipped to meet the needs of today’s policyholders while anticipating the demands of tomorrow.
