Fidelity Life experiences another record year for new business

[ Monday, 12 November 2007 ]

Annual result shows positive return
New Zealand-owned life insurance and investment company, Fidelity Life, has reported an $11.0 million profit for the year to 30 June 2007. The result is slightly down on last year’s result (which included unusually high investment returns), but still ahead of budget. The company has increased its normal dividend from 40 cents in 2006 to 75 cents in 2007.

New business sales grew by 5% from 2006 and total assets grew by 76% to $564 million.

Results were aided by two major initiatives under taken during the year. Chief Executive Officer Milton Jennings confirmed, "The acquisition of Farmers’ Mutual Life Limited and the listing of the Fidelity Capital Guaranteed Bond were major factors in lifting total assets”.

Fidelity Life has operated in New Zealand for 35 years. Its New Zealand heritage, its ability to react fast to market trends and the excellent relationship that it enjoys with over 1000 independent life insurance advisers are keys to its success.

The company has continued to increase its market share and also enjoys an A- (Excellent) rating with the leading international rating agency A.M. Best. Its conservative investment portfolio has a 5-star rating from Morningstar rating agency.

Fidelity Life has offices in Auckland, Wellington and Christchurch and offers a full range of life insurance products that includes personal protection, business assurance and investment options.

To view a copy of Fidelity Life’s 2007 Annual Report click here.
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