FIDELITY Life Assurance has reported a profit of US$2,3 million for the year ended December 31, 2024, up 178 percent from prior year levels of US$6,4 million largely driven by investment income and insurance contracts revenue.
Net investment income grew 54 percent to US$9,1 million in 2024 from US$5,9 million recorded prior year, driving overall profitability.
Group chairman Livingstone Gwata said drivers of the stellar performance were attributable to fair value gains from investment properties and interest income derived from money market investments.