[ Friday, 27 September 2013 ]
|The Annual Report shows that Fidelity Life achieved a net profit of $17.1 million after tax for the year ended 30 June 2013, up 25% from the previous year. |
Fidelity Life’s results were released to the media yesterday with a positive result, appearing in business news around the country.
Click here to view an article on stuff.co.nz
I am very pleased to provide you with a copy of our latest annual report, detailing what has been an eventful and hugely successful period in the 40 year history of Fidelity Life.
The Annual Report shows that Fidelity Life achieved a net profit of $17.1 million after tax for the year ended 30 June 2013, up 25% from the previous year.
The increased profit was driven by a 10% rise in premium income off the back of record new business production of $14.8 million and a sharp increase in investment income.
We also paid out a record amount of claims ($54.6 million) for the period – something that we are very happy to do, as we see paying claims as a cornerstone of our business.
This result confirms our strong overall financial position and caps off what has been a year of change for Fidelity Life. As well as a continued focus on cementing our position as a leader in the life risk sector, we undertook two major transactions including the acquisition of the TOWER Life business and the divestment of the Fidelity KiwiSaver Scheme – both significant milestones in the history of Fidelity Life.
| Back to latest news|