FIDELITY LIFE ASSURANCE LTD /ZW/

Name

FIDELITY LIFE ASSURANCE LTD /ZW/

Legal name

Fidelity Life Assurance of Zimbabwe Limited

Website

http://www.fidelitylife.co.zw

Company type

Public

Operating status

Operating

Ownership category

akta.pro rank

Product category

Life Insurance

NAICS

Direct Life Insurance Carriers (524113), Health and Welfare Funds (52512), Insurance Agencies and Brokerages (52421)

SIC

Life Insurance (6311), Insurance Agents, Brokers & Service (6411), Hospital & Medical Service Plans (6324)

akta.pro primary industry

Whole Life Insurance (FSAIABAA)

Keywords

• Life insurance
• Funeral assurance
• Medical aid administration
• Actuarial consulting
• Wealth protection

Headquarters

HQ city

Harare

HQ country

Zimbabwe

HQ region

Africa

Offices10 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Supply Chain

Revenue model

1. Life Assurance Premiums: Recurring premium income from life assurance policies providing financial protection and retirement solutions
2. Funeral Cover Premiums: Recurring premium income from funeral assurance plans offering dignified send-offs and financial support during bereavement
3. Medical Aid Contributions: Corporate medical aid scheme contributions with reinsurance arrangements for large claims protection
4. Actuarial Consulting Services: Expert actuarial services for insurers, pension funds, and financial institutions including IFRS 17 and IFRS 9 compliance consulting

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Fidelity Life Assurance underwrites and distributes life assurance, funeral cover, and medical aid products to individuals and corporates across Zimbabwe, complemented by actuarial consulting through subsidiary ZAC Global Actuaries. Revenue is generated primarily through recurring insurance premiums, with corporate medical aid administration handled via FLIMAS and reinsurance arrangements protecting large claims. The company sells its plans through a 9-branch network, an agent force, and digital self-service portals supported by an AI virtual assistant.

Product overview

Fidelity Life Assurance offers a comprehensive suite of life, health, and wealth financial products and services in Zimbabwe and the Southern African region. The core offerings include life assurance products (Vaka Yako property investment life cover), funeral assurance plans (Funeral Flexi Combo, Beloved Funeral Plans 1-4, E-Class Funeral Plan, Yambutso Uncedo), and medical aid services. The company operates several subsidiaries: Fidelity Funeral Services (mortuary and funeral solutions), FLIMAS (medical aid society regulated by AHFoZ), ZAC Global Actuaries (actuarial and risk advisory across Southern Africa), and Vanguard Life Assurance (operating in Malawi). An AI-powered virtual assistant named Phil provides 24/7 customer support.

Differentiator

Problem solved

Functional benefit

Products and services

• Vaka Yako (Life Cover with Property Investment) Life cover policy that pairs USD 5,000 in life cover with landbank property investments across Zimbabwe, positioning customers to become landlords from USD 45/month with flexible payment terms. Target users: Zimbabwean individuals and households seeking combined life protection and long-term wealth building.
• Funeral Flexi Combo Flexible funeral cover that lets the policyholder settle final medical bills, with coverage for one person starting at USD 20.00 annually and including services worth USD 1,000 plus USD 1,000 in cash. Targets individual buyers needing affordable funeral benefits with a 3-month waiting period for the core insured and 6-month waiting period for dependents.
• Beloved Family Funeral Plans Family funeral cover packages (Beloved Funeral Plans 1-4 plus E-Class) covering the principal member, spouse, and biological children up to age 18 (or 23 for full-time students), with nationwide coverage and tiered casket options ranging from a two-tier casket through act, standard dome, executive dome, to a cathedral casket for the executive class. Pricing tiers span USD 9-27 per month. Targets Zimbabwean families seeking packaged, multi-member funeral benefits.
• Yambutso Uncedo (Bury Now, Pay Later) Bury-now-pay-later funeral cover that delivers service quickly after death and waives the standard waiting period and age restrictions, removing the typical barrier for holders of lapsed or no policies. Targets households needing immediate, zero-wait funeral benefits.
• Medical Aid Self Managed Fund (FLIMAS) Corporate medical aid product for organisations with large membership bases, allowing the member organisation to define its own benefits while FLIMAS handles membership administration and claims adjudication, with reinsurance arrangements protecting against large unexpected claims, accidents, surgeries, and epidemic events. Targets corporates and large employers seeking a managed, customisable medical aid scheme.
• Actuarial Consulting (ZAC Global Actuaries) Expert actuarial, financial, and risk advisory services for insurers, pension funds, and financial institutions across Southern Africa, covering IFRS 17 and IFRS 9 compliance, data analytics, and reinsurance advisory. Delivered through subsidiary ZAC Global Actuaries across Zimbabwe, Botswana, Mozambique, and Malawi.
• Fidelity Funeral Services Subsidiary offering dignified, compassionate, and reliable funeral solutions including mortuaries and funeral vehicles across Zimbabwe, regulated by IPEC. Targets families requiring the actual funeral service execution on top of the funeral assurance policy.
• FLIMAS (Fidelity Life Medical Aid Society) Fidelity Life Medical Aid Society: a wholly-owned subsidiary providing comprehensive medical aid solutions across Zimbabwe, regulated by the Association of Healthcare Funders of Zimbabwe (AHFoZ). Administers membership and adjudicates claims on behalf of member organisations using the Medical Aid Self Managed Fund construct.
• ZAC Global Actuaries Wholly-owned independent actuarial, financial, and risk advisory consultancy serving insurers, pension funds, and financial institutions across Southern Africa and the wider African region. Operates in Zimbabwe, Botswana, Mozambique, and Malawi.
• Vanguard Life Assurance (Malawi) Wholly-owned life insurance subsidiary offering financial security through life assurance and long-term investment solutions in Malawi, regulated by the Reserve Bank of Malawi. Targets individuals and corporates in Malawi seeking life cover and investment-linked products.

Quantifiable outcome

• 100,000+ policy holders covered
• +2 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature3 records

Partnerships

One partnership is on record.

• Reinsurance ProviderscoreOthersReinsurance arrangements to protect Medical Aid Self Managed Funds from large unexpected claims, accidents, surgeries, and high-claim events such as epidemics. Reinsurance helps protect the fund from depletion by major claims.

Scale indicators6 records

Recent moves9 records

Expansion highlights6 records

Others

• Strategy Insurance Brokers Zimbabwe: Zimbabwean insurance intermediary and broker — not a direct underwriting peer but competes at the distribution layer for corporate insurance placements that Fidelity Life targets.

Direct peers

• Zimnat Lion Insurance: Zimbabwean insurer offering life, funeral, and general insurance products with multi-branch distribution — overlapping with Fidelity's core personal and corporate product lines.
• First Mutual Holdings: Zimbabwe-listed insurance group providing life assurance, health insurance, and general insurance — directly comparable in product mix and target customer segments to Fidelity Life.
• Alliance Insurance Company: Zimbabwe-listed insurer providing life and short-term insurance products with comparable branch and broker distribution — competes for the same retail and corporate segments.
• NicozDiamond Insurance: Listed Zimbabwean general insurer with growing life and funeral product presence; competes with Fidelity for both individual and corporate customers across similar channels.
• Liberty Life Zimbabwe: Life insurance subsidiary of Liberty Holdings operating in Zimbabwe, offering individual life, group life, and investment-linked policies — a direct head-to-head competitor in life assurance.
• Old Mutual Zimbabwe: Direct competitor offering life assurance, funeral cover, and asset management in Zimbabwe through an established branch and agency network, with significantly larger scale and pan-African parent backing.

Regional players

• Stanbic Bank Zimbabwe: Standard Bank subsidiary in Zimbabwe that distributes life and credit life insurance products through its banking network — a regional bancassurance competitor with overlap in corporate and salaried segments.
• Old Mutual Malawi: Regional life insurance competitor to Vanguard Life Assurance (Fidelity's Malawi subsidiary), offering similar life and investment products in Fidelity's secondary geography.

Broad incumbents

• Sanlam Emerging Markets: Pan-African insurance and investment group with significant Zimbabwe and Southern African life insurance operations, providing broader product depth and deeper capital than Fidelity Life.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles19 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about FIDELITY LIFE ASSURANCE LTD /ZW/