Skip to content
The African Exponent DATA
Resources

Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text; read from the page image) (17 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review

Fidelity Life Assurance

FIDL.ZW · Zimbabwe Stock Exchange · Consolidated statements

On this page
Company details
Legal name
Fidelity Life Assurance of Zimbabwe Limited
Listing
FIDL.ZW on the Zimbabwe Stock Exchange, active · ISIN ZW0009011876 (observed 2026-10-08)
Sector
Not classified (our classification from the stated principal activity)
Financial year ends
31 December

Overview

Year ended 31 December 2025 · annual report, signed / final · source

Read with these figures

  • Qualified audit opinion. FY2025: Basis: Basis for Qualified Opinion (PDF p61). Details below.
  • Auditor's emphasis of matter. Emphasis of Matter: without further modifying the opinion, the auditor draws attention to note 14, which describes the restatement of prior year comparatives as a result of further enhancements and refinements of the IFRS 17 assumptions and modelling approaches; opinion not modified in respect of this matter (auditor's report on the consolidated financial statements, PDF p62, image-only page)
Full wording and sources

  • Auditor's report, year to 2025-12-31: qualified opinion ('except for')

    The auditor gives a qualified ('except for') opinion: apart from the matters it names, the statements are presented fairly. Figures are shown as printed; those affected by the named matters may be misstated. The auditor (Grant Thornton, Zimbabwe) gave a qualified opinion on Fidelity Life Assurance of Zimbabwe Limited's consolidated financial statements for 2025. Except for one matter, the auditor found they present fairly. The matter: after the Group refined its IFRS 17 models, the auditor could not reconcile certain movements and so could not tell whether insurance contract liabilities and insurance finance expense needed adjusting. The auditor also drew attention to the restatement of the 2024 comparatives for the same IFRS 17 refinements. Figures are shown as published. (auditor's report, PDF p61; verified on the page images 2026-10-08)

    Source: Fidelity Life Assurance Annual Report 2025 — Expanding Reach, Deepening Impact, p61 (dated 2026-03-31)

  • Auditor's report, year to 2024-12-31: qualified opinion ('except for')

    The auditor gives a qualified ('except for') opinion: apart from the matters it names, the statements are presented fairly. Figures are shown as printed; those affected by the named matters may be misstated. Basis for Qualified Opinion: (1) non-compliance with IAS 21 on the change of functional currency from ZWL to USD on 1 January 2024 — the 2023 comparatives were translated by separating USD and ZWL components rather than at the closing rate, so 31 December 2024 balances of retained earnings, property and equipment, investment property, inventories, revaluation reserve, foreign currency translation reserve, insurance reserve and insurance contract liabilities may contain misstatements carried forward; (2) the new IFRS 17 systems need further enhancement of modelling and data outputs, which may adjust insurance contract liabilities and the related insurance revenue and service expenses; material but not pervasive (PDF pp70-71)

    Source: Fidelity Life Assurance of Zimbabwe Annual Report 2024, p70 (dated 2025-04-15)

  • Auditor's emphasis of matter

    Emphasis of Matter: without further modifying the opinion, the auditor draws attention to note 14, which describes the restatement of prior year comparatives as a result of further enhancements and refinements of the IFRS 17 assumptions and modelling approaches; opinion not modified in respect of this matter (auditor's report on the consolidated financial statements, PDF p62, image-only page)

    Source: Fidelity Life Assurance Annual Report 2025 — Expanding Reach, Deepening Impact (dated 2026-03-31)

  • Auditor's emphasis of matter

    Emphasis of Matter: attention drawn to note 14, which describes the restatement of prior year comparatives to reflect the audited 2023 annual financial statements of Vanguard Life Assurance Limited; opinion not modified in respect of this matter (PDF p71)

    Source: Fidelity Life Assurance of Zimbabwe Annual Report 2024 (dated 2025-04-15)

  • Going-concern uncertainty stated by the directors

    Directors' statement: under the current economic environment a continuous assessment of the Group's ability to continue as a going concern will need to be performed to determine the continued appropriateness of the going concern assumption (PDF p68). Not raised by the auditor.

    Source: Fidelity Life Assurance of Zimbabwe Annual Report 2024 (dated 2025-04-15)

  • Insurance contracts revenue

    USD 16.6 million

    16,649,840 USD units · p66

    +45.7% vs 2024

    Insurer (IFRS 17): printed 'Insurance contracts revenue' (p66).

  • Insurance service result

    USD 5.48 million

    5,477,101 USD units · p66

    +134.3% vs 2024

    Printed 'Insurance service result' (p66).

  • Net Investment Income

    USD 22.1 million

    22,074,916 USD units · p66

    +147.4% vs 2024

    Printed 'Net Investment Income' (p66).

  • Profit for the year

    USD 7.87 million

    7,872,765 USD units · p66

    +357.6% vs 2024

    Printed 'Profit for the year' (p66).

  • Total assets

    USD 149 million

    148,837,865 USD units · p65

    +62.8% vs 2024

    Printed 'Total assets' (p65).

  • Total equity

    USD 3.86 million

    3,856,172 USD units · p65

    Change not shown.

    Printed 'Total equity' (p65).

Large amounts are rounded for reading (USD million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.

Not shown: the prior-year figure is zero or negative.

Financial statements

Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in USD units unless the row says otherwise; brackets are negative.

† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table

Column sources

  • FY2025 — annual report, signed / final; reported for the year · source
  • FY2024 — annual report, signed / final; comparative in the FY2025 filing · source
    • Auditor's report, year to 2024-12-31: qualified opinion ('except for'). The auditor gives a qualified ('except for') opinion: apart from the matters it names, the statements are presented fairly. Figures are shown as printed; those affected by the named matters may be misstated. Basis for Qualified Opinion: (1) non-compliance with IAS 21 on the change of functional currency from ZWL to USD on 1 January 2024 — the 2023 comparatives were translated by separating USD and ZWL components rather than at the closing rate, so 31 December 2024 balances of retained earnings, property and equipment, investment property, inventories, revaluation reserve, foreign currency translation reserve, insurance reserve and insurance contract liabilities may contain misstatements carried forward; (2) the new IFRS 17 systems need further enhancement of modelling and data outputs, which may adjust insurance contract liabilities and the related insurance revenue and service expenses; material but not pervasive (PDF pp70-71)
  • FY2023 — annual report, signed / final; comparative in the FY2024 filing · source
    • Auditor's emphasis of matter. Emphasis of Matter: attention drawn to note 14, which describes the restatement of prior year comparatives to reflect the audited 2023 annual financial statements of Vanguard Life Assurance Limited; opinion not modified in respect of this matter (PDF p71)
    • Going-concern uncertainty stated by the directors. Directors' statement: under the current economic environment a continuous assessment of the Group's ability to continue as a going concern will need to be performed to determine the continued appropriateness of the going concern assumption (PDF p68). Not raised by the auditor.

Income statement

Income statement, USD units. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025; FY2023 — annual report (signed / final), comparative reported in the annual report for 2024.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filingsource limitationsFY2023Annual reportcomparative in FY2024 filingsource limitations
Insurance contracts revenue 16,649,840 11,430,560 7,875,974
Insurance service expenses (10,733,433) (8,941,428) (5,257,415)
Insurance service result from insurance contracts issued1 5,916,407 2,489,132 2,618,559
Allocation of reinsurance paid2 (519,460) (354,078) (305,814)
Amount recoverable from reinsurers for incurred claims3 80,154 202,318 223,325
Net expenses from reinsurance contracts held (439,306) (151,760) Not reported in this filing4
Insurance service result 5,477,101 2,337,372 2,536,070
Interest revenue from financial instruments not measured at fair value through profit or loss 2,225,091 1,862,288 1,731,724
Net income from other financial instruments at fair value through profit or loss5 47,168,094 4,615,9086 6,501,813
Net gains from fair value adjustments to investment properties7 2,982,947 6,030,6798 8,523,677
Net change in investment contract liabilities9 (35,015,772) (3,751,688) (11,365,291)
Other net investment revenue10 4,808,000 131,935 459,572
Net gain from foreign exchange (93,444) 33,282 –11
Net Investment Income 22,074,916 8,922,40412 5,851,495
Insurance finance expenses for insurance contracts issued (7,681,488) (3,671,752)13 (2,259,201)
Reinsurance finance income for reinsurance contracts held14 –15 –15 –15
Net insurance finance expenses (7,681,488) (3,671,752)13 (2,259,201)
Net insurance and investment result 19,870,529 7,588,02416 6,128,364
Rental income from investment property17 869,283 381,166 349,692
Fair value adjustments to investment properties18 38,000 79,250 Not reported in this filing19
Fair value gains from financial instruments at fair value through profit or loss20 17,615 60,283 Not reported in this filing21
Interest income from micro - lending22 –23 637,405 532,005
Other income 2,889,454 4,525,657 2,305,473
Property operating costs24 (497,319) (278,710) Not reported in this filing25
Operating and administrative expenses expenses26 (13,657,679) (10,357,013)27 (7,621,673)
Allowance for expected credit losses on receivables (325,532) (297,597) (30,259)
Finance costs (834,821) (446,771) (177,435)
Profit before income tax expense 8,369,530 1,891,69428 2,735,104
Income tax expense (496,765) (171,193) (398,523)
Profit for the year 7,872,765 1,720,50129 2,336,581
Gains on property, plant and equipment revaluations30 349,787 651,733 603,869
Finance expenses from insurance contracts issued3132 –33 2,252,085 –33
Income tax relating to components of other comprehensive income34 (12,395) –33 Not reported in this filing35
Items that will not be reclassified to profit or loss (subtotal)36 337,392 2,903,818 603,869
Exchange differences on translating foreign operations37 (144,294) 48,539 396,906
Investments in equity instruments38 –39 3,994 –39
Items that may be reclassified subsequently to profit or loss (subtotal)40 (144,294) 52,533 396,906
Other comprehensive income for the period net of tax 193,098 2,956,351 1,000,775
Non-controlling interests41 3,320,499 368,108 8,871
Owners of the parent42 4,796,212 4,205,52843 3,172,275
Non-controlling interests41 3,269,651 471,324 165,081
Total comprehensive income for the period44 8,065,863 4,676,85245 3,337,356
Profit or loss on disposal of investment property46 Not reported in this filing47 Not reported in this filing4948 1,248,937
Share of revaluation gains on property50 Not reported in this filing51 Not reported in this filing5148 –33
  1. Printed “-”, read as nil: subtotal_arithmetic: is.investment_return.
  2. Printed “-”, read as nil: subtotal_arithmetic: is.insurance_finance_result.
  3. Printed “-”, read as nil: subtotal_arithmetic: is.profit_before_tax.
  4. Printed “-”, read as nil: subtotal_arithmetic: is.native.co_k1m2z9355p38.oci_not_reclassified.
  5. Printed “-”, read as nil: subtotal_arithmetic: is.native.co_k1m2z9355p38.oci_may_be_reclassified.
Notes and alternative reported figures (46)
  1. “Insurance service result from insurance contracts issued” is an issuer-specific line, not mapped to a shared definition: Insurance revenue less insurance service expenses.
  2. “Allocation of reinsurance paid” is an issuer-specific line, not mapped to a shared definition: Reinsurance contracts held.
  3. “Amount recoverable from reinsurers for incurred claims” is an issuer-specific line, not mapped to a shared definition: Reinsurance contracts held.
  4. Not reported in this filing: Not printed: the 2024 annual report's consolidated statement of profit or loss and other comprehensive income (p77, Restated 2023* column) has no net reinsurance subtotal; it prints the two components 'Allocation of reinsurance paid' (305 814) and 'Amount recoverable from reinsurers for incurred claims' 223 325, followed directly by 'Insurance service result' 2 536 070. Checked on the page image.
  5. “Net income from other financial instruments at fair value through profit or loss” is an issuer-specific line, not mapped to a shared definition: Note 11.1; within net investment income.
  6. Annual report dated 2025-04-15 prints 4 676 191 (units, p77) for this line and year.
  7. “Net gains from fair value adjustments to investment properties” is an issuer-specific line, not mapped to a shared definition: Note 6; within net investment income.
  8. Annual report dated 2025-04-15 prints 6 109 929 (units, p77) for this line and year.
  9. “Net change in investment contract liabilities” is an issuer-specific line, not mapped to a shared definition: Note 15.5; within net investment income.
  10. “Other net investment revenue” is an issuer-specific line, not mapped to a shared definition: Note 20; within net investment income.
  11. Annual report dated 2025-04-15 prints 9 061 937 (units, p77) for this line and year.
  12. Annual report dated 2025-04-15 prints 1 004 828 (units, p77) for this line and year.
  13. “Reinsurance finance income for reinsurance contracts held” is an issuer-specific line, not mapped to a shared definition: Nil both years (dashes).
  14. Annual report dated 2025-04-15 prints 12 404 137 (units, p77) for this line and year.
  15. “Rental income from investment property” is an issuer-specific line, not mapped to a shared definition: Below the net insurance and investment result.
  16. “Fair value adjustments to investment properties” is an issuer-specific line, not mapped to a shared definition: Note 6; below the net insurance and investment result.
  17. Not reported in this filing: Not printed: the 2024 annual report's consolidated statement of profit or loss and other comprehensive income (p77, Restated 2023* column) has no second fair-value line for investment properties outside net investment income; the only such line is 'Net gains from fair value adjustments to investment properties' 8 523 677 within Net Investment Income (stored as fv_investment_property_investment). Checked on the page image.
  18. “Fair value gains from financial instruments at fair value through profit or loss” is an issuer-specific line, not mapped to a shared definition: Note 11.1; below the net insurance and investment result.
  19. Not reported in this filing: Not printed: the 2024 annual report's consolidated statement of profit or loss and other comprehensive income (p77, Restated 2023* column) has no separate 'Fair value gains from financial instruments at fair value through profit or loss' line below the net insurance and investment result; the only FVTPL line is 'Net income from other financial instruments at fair value through profit or loss' 6 501 813 within Net Investment Income (stored as net_income_other_fvtpl). Checked on the page image.
  20. “Interest income from micro - lending” is an issuer-specific line, not mapped to a shared definition: Micro-lending interest (2024 only).
  21. “Property operating costs” is an issuer-specific line, not mapped to a shared definition: Operating costs of investment property.
  22. Not reported in this filing: Not printed: the 2024 annual report's consolidated statement of profit or loss and other comprehensive income (p77, Restated 2023* column) has no property operating costs line; below the net insurance and investment result it prints Rental income from investment property, Profit or loss on disposal of investment property, Interest income from micro - lending, Other income, Operating and administrative expenses, Allowance for expected credit losses on receivables and Finance costs. Checked on the page image.
  23. Printed under different labels across filings: “Operating and administrative expenses”; “Operating and administrative expenses expenses”.
  24. Annual report dated 2025-04-15 prints (10 635 723) (units, p77) for this line and year.
  25. Annual report dated 2025-04-15 prints 6 568 274 (units, p77) for this line and year.
  26. Annual report dated 2025-04-15 prints 6 397 081 (units, p77) for this line and year.
  27. “Gains on property, plant and equipment revaluations” is an issuer-specific line, not mapped to a shared definition: OCI, not reclassified.
  28. “Finance expenses from insurance contracts issued” is an issuer-specific line, not mapped to a shared definition: OCI, not reclassified (2024 only).
  29. Printed under different labels across filings: “Finance expenses from insurance contracts issued”; “Finance income/finance expenses from insurance contracts”.
  30. “Income tax relating to components of other comprehensive income” is an issuer-specific line, not mapped to a shared definition: OCI, not reclassified.
  31. Not reported in this filing: Not printed: the 2024 annual report's consolidated statement of profit or loss and other comprehensive income (p77, Restated 2023* column) has no income tax line within other comprehensive income; OCI items are 'Gains on property, plant and equipment revaluations', 'Share of revaluation gains on property', 'Finance income/finance expenses from insurance contracts', 'Exchange differences on translating foreign operations' and 'Investments in equity instruments', totalled as 'Other comprehensive income for the period net of tax'. Checked on the page image.
  32. “Items that will not be reclassified to profit or loss (subtotal)” is an issuer-specific line, not mapped to a shared definition: Unlabelled subtotal.
  33. “Exchange differences on translating foreign operations” is an issuer-specific line, not mapped to a shared definition: OCI, may be reclassified.
  34. “Investments in equity instruments” is an issuer-specific line, not mapped to a shared definition: OCI (2024 only).
  35. “Items that may be reclassified subsequently to profit or loss (subtotal)” is an issuer-specific line, not mapped to a shared definition: Unlabelled subtotal.
  36. “Non-controlling interests” is an issuer-specific line, not mapped to a shared definition: Attribution.
  37. “Owners of the parent” is an issuer-specific line, not mapped to a shared definition: Attribution.
  38. Annual report dated 2025-04-15 prints 8 882 108 (units, p77) for this line and year.
  39. Printed under different labels across filings: “TOTAL COMPREHENSIVE INCOME FOR THE PERIOD”; “Total comprehensive income for the period”.
  40. Annual report dated 2025-04-15 prints 9 353 432 (units, p77) for this line and year.
  41. “Profit or loss on disposal of investment property” is an issuer-specific line, not mapped to a shared definition: Below the net insurance and investment result.
  42. Not reported in this filing: Not printed: the 2025 annual report's consolidated statement of profit or loss and comprehensive income (p66) has no 'Profit or loss on disposal of investment property' line in the 2025 column or at all; below the net insurance and investment result it prints Rental income, Fair value adjustments to investment properties, Fair value gains from financial instruments at FVTPL, Interest income from micro - lending, Other income, Property operating costs, Operating and administrative expenses, Allowance for expected credit losses and Finance costs. (The cash-flow adjustments on p69 print 'Profit on disposal of investment property' '-' '-'.) Checked on the page image.
  43. Annual report dated 2025-04-15 presents this line for this year: - (p77). Not shown in this column, which follows one filing's presentation.
  44. Not reported in this filing: Not printed: the 2025 annual report's consolidated statement of profit or loss and comprehensive income (p66) has no 'Profit or loss on disposal of investment property' line in the 2024 Restated column or at all; below the net insurance and investment result it prints Rental income, Fair value adjustments to investment properties, Fair value gains from financial instruments at FVTPL, Interest income from micro - lending, Other income, Property operating costs, Operating and administrative expenses, Allowance for expected credit losses and Finance costs. (The cash-flow adjustments on p69 print 'Profit on disposal of investment property' '-' '-'.) Checked on the page image.
  45. “Share of revaluation gains on property” is an issuer-specific line, not mapped to a shared definition: OCI, not reclassified; nil both years (dashes).
  46. Not reported in this filing: Not printed: the OCI section of the 2025 annual report's consolidated statement of profit or loss and comprehensive income (p67) has no 'Share of revaluation gains on property' line; items not reclassified are Gains on property, plant and equipment revaluations, Finance expenses from insurance contracts issued and Income tax relating to components of other comprehensive income. Checked on the page image.

Balance sheet

Balance sheet, USD units. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025; FY2023 — annual report (signed / final), comparative reported in the annual report for 2024.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filingsource limitationsFY2023Annual reportcomparative in FY2024 filingsource limitations
Property and equipment 7,466,652 6,740,743 5,161,070
Right of use asset 792,136 105,224 141,961
Investment property 55,933,282 47,075,151 36,806,252
Intangible assets 109,963 175,296 413,805
Other non current assets1 284,747 170,020 151,447
Insurance Contract Assets2 1,183,199 278,0063 950,620
Inventories 40,153 33,754 272,536
Income tax asset 1,070,567 428,031 –4
Trade and other receivables 6,310,835 7,872,6205 4,848,877
Financial assets at fair value through other comprehensive income 21,582 21,582 17,588
Financial assets at fair value through profit or loss 63,361,287 20,313,922 11,037,898
Debt securities at amortised cost 5,462,389 4,331,448 3,768,003
Biological assets6 132,502 98,280 75,758
Cash and deposits with banks 6,668,572 3,771,350 2,801,386
Total assets 148,837,865 91,415,427 66,447,201
Issued share capital 1,089,233 1,089,233 1,089,233
Share premium 671,409 671,409 671,409
Treasury shares7 (10,037) (10,037) (10,037)
Retained earnings 18,422,122 14,169,8568 12,817,463
Revaluation reserve 2,541,912 2,208,836 1,656,325
Foreign currency translation reserve9 (32,028,277) (31,939,147) (31,987,686)
Total ordinary shareholder's equity10 (9,313,638) (13,809,850)11 (2,721,098)
Insurance Reserve1213 1,100,111 1,100,111 13,042,195
Non-controlling interests 12,069,699 8,996,366 8,525,042
Total equity 3,856,172 (3,713,373)14 5,803,944
Insurance contract liabilities 96,743,162 65,755,00015 42,928,406
Investment contract liabilities without direct participating features16 34,363,115 16,669,824 10,038,882
Borrowings 3,602,571 3,180,610 752,288
Deferred tax liabilities 2,453,041 2,114,713 2,087,215
Lease Liability1718 768,965 91,825 143,383
Trade and other payables 7,050,839 7,316,828 4,553,917
Total liabilities 144,981,693 95,128,80019 60,643,257
Total equity and liabilities 148,837,865 91,415,427 66,447,201
Income tax liability Not reported in this filing20 Not reported in this filing2221 139,166
  1. Printed “-”, read as nil: subtotal_arithmetic: bs.total_assets.
Notes and alternative reported figures (21)
  1. “Other non current assets” is an issuer-specific line, not mapped to a shared definition: Note 4.
  2. Printed under different labels across filings: “Insurance Contract Assets”; “Insurance contract assets”.
  3. Annual report dated 2025-04-15 prints 337 153 (units, p76) for this line and year.
  4. Annual report dated 2025-04-15 prints 7 813 473 (units, p76) for this line and year.
  5. “Biological assets” is an issuer-specific line, not mapped to a shared definition: Note 11.3.
  6. “Treasury shares” is an issuer-specific line, not mapped to a shared definition: Deducted in equity.
  7. Annual report dated 2025-04-15 prints 18 846 436 (units, p76) for this line and year.
  8. “Foreign currency translation reserve” is an issuer-specific line, not mapped to a shared definition: Equity reserve.
  9. Printed under different labels across filings: “Total ordinary shareholder's equity”; “Total ordinary shareholder’s equity”.
  10. Annual report dated 2025-04-15 prints (8 033 159) (units, p76) for this line and year.
  11. “Insurance Reserve” is an issuer-specific line, not mapped to a shared definition: Printed between the ordinary shareholders' equity total and non-controlling interests.
  12. Printed under different labels across filings: “Insurance Reserve”; “Insurance reserve”.
  13. Annual report dated 2025-04-15 prints 963 207 (units, p76) for this line and year.
  14. Annual report dated 2025-04-15 prints 61 078 420 (units, p76) for this line and year.
  15. Printed under different labels across filings: “Investment contract liabilities”; “Investment contract liabilities without direct participating features”.
  16. “Lease Liability” is an issuer-specific line, not mapped to a shared definition: Note 17; unclassified.
  17. Printed under different labels across filings: “Lease Liability”; “Lease liability”.
  18. Annual report dated 2025-04-15 prints 90 452 220 (units, p76) for this line and year.
  19. Not reported in this filing: Not printed: the 2025 consolidated statement of financial position (p65) has no income tax liability line; liabilities are Insurance contract liabilities, Investment contract liabilities, Borrowings, Deferred tax liabilities, Lease Liability and Trade and other payables. Tax appears only as 'Income tax asset' under assets (2025 column). Checked on the page image.
  20. Annual report dated 2025-04-15 presents this line for this year: - (p76). Not shown in this column, which follows one filing's presentation.
  21. Not reported in this filing: Not printed: the 2025 consolidated statement of financial position (p65) has no income tax liability line; liabilities are Insurance contract liabilities, Investment contract liabilities, Borrowings, Deferred tax liabilities, Lease Liability and Trade and other payables. Tax appears only as 'Income tax asset' under assets (2024 Restated column). Checked on the page image.

Cash flow

Cash flow, USD units. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025; FY2023 — annual report (signed / final), comparative reported in the annual report for 2024.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filingsource limitationsFY2023Annual reportcomparative in FY2024 filingsource limitations
Profit before income tax1 8,369,530 1,891,6942 2,735,104
Adjustments:3 (762,750) 237,0894 (6,145,039)
Fair value gains on equities at fair value through profit or loss5 (47,185,709) (4,676,191) (6,501,813)
Fair value gains on investment property6 (3,020,947) (6,109,929) (8,523,677)
Fair value gains on non current assets7 (198,528) (18,573) (28,799)
Amortisation of intangible assets8 89,458 64,517 89,194
Depreciation of right of use asset9 83,707 78,427 57,578
Finance costs10 834,821 446,771 177,435
Depreciation of property and equipment11 576,717 301,140 61,359
Changes in insurance contract assets12 (905,193) 613,467 552,120
Insurance service result13 (5,477,101) (2,337,372) (2,536,070)
Premiums received14 35,632,918 12,028,666 5,580,471
Claims and other directly attributable expenses paid15 (8,348,946) (5,797,163) (4,036,184)
Insurance acquisition cash flows16 (1,683,239) (1,392,616) (2,185,819)
Changes in investment contract liabilities17 35,015,772 6,630,942 11,365,291
Insurance finance expenses for insurance contracts issued18 7,681,488 3,671,75219 2,259,201
Interest income20 (2,225,091) (1,862,288) (1,731,724)
Dividend income21 (498,363) (131,935) (459,572)
Unrealised gains/ (losses)2223 (11,481,254) (1,561,939) 915,481
Allowance for expected credit losses on receivables24 325,532 297,597 30,259
Profit on disposal of investment property25 –26 –26 (1,248,937)
Loss/ (profit)on disposal of property, plant and equipment2728 21,208 (8,184) 19,167
Changes in working capital29 1,289,397 37,097 5,168,273
(Increase)/decrease in inventories3031 (6,399) 238,782 358,173
Decrease/(increase) in trade and other receivables3233 1,561,785 (2,964,596) 3,814,162
(Decrease)/Increase in trade and other payables3435 (265,989) 2,762,911 995,938
Cash generated from operations36 8,896,176 2,165,880 1,758,338
Income taxes paid (824,496) (518,354) (287,974)
Net cash generated from operations 8,071,680 1,647,526 1,470,364
Additions to and replacement of property and equipment (1,080,335) (352,682) (111,417)
Additions to intangible assets (24,091) –37 (2,343)
Additions to financial assets38 (2,535,917) (4,447,755) (1,963,029)
Additions to investment property39 (6,249,371) –37 Not reported in this filing40
Proceeds from sale of financial assets41 305,540 129,290 1,268,104
Interest income 2,225,091 1,862,288 1,731,724
Dividend income42 498,363 131,935 459,572
Net cash utilised from investing activities43 (6,860,720) (2,676,924) 1,328,043
Finance costs44 (834,821) (446,771) (177,435)
Repayments of lease obligations (94,659) (34,422) (18,325)
Repayments of borrowings (736,714) (174,774) (558,389)
Proceeds from borrowings 3,352,456 2,655,329 516,296
Net cash generated from financing activities45 1,686,262 1,999,362 (237,853)
Net increase in cash equivalents for the year46 2,897,222 969,964 2,560,554
Cash and cash equivalents at the beginning of the year 3,771,350 2,801,386 240,832
Cash and cash equivalents at the end of the year 6,668,572 3,771,350 2,801,386
Additions to other non current assets47 Not reported in this filing48 Not reported in this filing4849 (54,568)
  1. Printed “-”, read as nil: subtotal_arithmetic: cf.native.co_k1m2z9355p38.cf_adjustments_total.
  2. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
Notes and alternative reported figures (47)
  1. “Profit before income tax” is an issuer-specific line, not mapped to a shared definition: Opening line of the indirect method.
  2. Annual report dated 2025-04-15 prints 6 568 274 (units, p79) for this line and year.
  3. “Adjustments:” is an issuer-specific line, not mapped to a shared definition: Printed beside the 'Adjustments:' heading; total of the adjustment lines below it.
  4. Annual report dated 2025-04-15 prints (4 439 491) (units, p79) for this line and year.
  5. “Fair value gains on equities at fair value through profit or loss” is an issuer-specific line, not mapped to a shared definition: Adjustment.
  6. “Fair value gains on investment property” is an issuer-specific line, not mapped to a shared definition: Adjustment.
  7. “Fair value gains on non current assets” is an issuer-specific line, not mapped to a shared definition: Adjustment.
  8. “Amortisation of intangible assets” is an issuer-specific line, not mapped to a shared definition: Adjustment.
  9. “Depreciation of right of use asset” is an issuer-specific line, not mapped to a shared definition: Adjustment.
  10. “Finance costs” is an issuer-specific line, not mapped to a shared definition: Adjustment.
  11. “Depreciation of property and equipment” is an issuer-specific line, not mapped to a shared definition: Adjustment.
  12. “Changes in insurance contract assets” is an issuer-specific line, not mapped to a shared definition: Adjustment.
  13. “Insurance service result” is an issuer-specific line, not mapped to a shared definition: Adjustment.
  14. “Premiums received” is an issuer-specific line, not mapped to a shared definition: Printed among the adjustments.
  15. “Claims and other directly attributable expenses paid” is an issuer-specific line, not mapped to a shared definition: Printed among the adjustments.
  16. “Insurance acquisition cash flows” is an issuer-specific line, not mapped to a shared definition: Printed among the adjustments.
  17. “Changes in investment contract liabilities” is an issuer-specific line, not mapped to a shared definition: Adjustment.
  18. “Insurance finance expenses for insurance contracts issued” is an issuer-specific line, not mapped to a shared definition: Adjustment.
  19. Annual report dated 2025-04-15 prints (1 004 828) (units, p79) for this line and year.
  20. “Interest income” is an issuer-specific line, not mapped to a shared definition: Adjustment; the receipt is shown in investing activities.
  21. “Dividend income” is an issuer-specific line, not mapped to a shared definition: Adjustment; the receipt is shown in investing activities.
  22. “Unrealised gains/ (losses)” is an issuer-specific line, not mapped to a shared definition: Adjustment.
  23. Printed under different labels across filings: “Unrealised exchange (losses)/gains”; “Unrealised gains/ (losses)”.
  24. “Allowance for expected credit losses on receivables” is an issuer-specific line, not mapped to a shared definition: Adjustment.
  25. “Profit on disposal of investment property” is an issuer-specific line, not mapped to a shared definition: Adjustment; nil both years.
  26. “Loss/ (profit)on disposal of property, plant and equipment” is an issuer-specific line, not mapped to a shared definition: Adjustment.
  27. Printed under different labels across filings: “(Loss)/profit on disposal of property and equipment”; “Loss/ (profit)on disposal of property, plant and equipment”.
  28. “Changes in working capital” is an issuer-specific line, not mapped to a shared definition: Printed beside the 'Changes in working capital' heading; total of the lines below it.
  29. “(Increase)/decrease in inventories” is an issuer-specific line, not mapped to a shared definition: Working-capital change.
  30. Printed under different labels across filings: “(Increase)/decrease in inventories”; “Decrease in inventories”.
  31. “Decrease/(increase) in trade and other receivables” is an issuer-specific line, not mapped to a shared definition: Working-capital change.
  32. Printed under different labels across filings: “(Increase)/decrease in trade and other receivables”; “Decrease/(increase) in trade and other receivables”.
  33. “(Decrease)/Increase in trade and other payables” is an issuer-specific line, not mapped to a shared definition: Working-capital change.
  34. Printed under different labels across filings: “(Decrease)/Increase in trade and other payables”; “Increase in trade and other payables”.
  35. Printed under different labels across filings: “Cash (utilised)/ generated from operations”; “Cash generated from operations”.
  36. “Additions to financial assets” is an issuer-specific line, not mapped to a shared definition: Note 11; investing.
  37. “Additions to investment property” is an issuer-specific line, not mapped to a shared definition: Note 6; investing.
  38. Not reported in this filing: Not printed: the 2024 consolidated statement of cash flows (p79) has no 'Additions to investment property' line; investing lines are Additions to and replacement of property and equipment, Additions to intangible assets, Additions to financial assets, Additions to other non current assets, Proceeds from sale of financial assets, Interest income and Dividend income. Checked on the page image.
  39. “Proceeds from sale of financial assets” is an issuer-specific line, not mapped to a shared definition: Investing.
  40. “Dividend income” is an issuer-specific line, not mapped to a shared definition: Investing.
  41. Printed under different labels across filings: “Net cash generated from in investing activities”; “Net cash utilised from investing activities”.
  42. “Finance costs” is an issuer-specific line, not mapped to a shared definition: Note 23; financing activities.
  43. Printed under different labels across filings: “Net cash generated from financing activities”; “Net cash generated/(utilised) from financing activities”.
  44. Printed under different labels across filings: “Net increase in cash and cash equivalents for the year”; “Net increase in cash equivalents for the year”.
  45. “Additions to other non current assets” is an issuer-specific line, not mapped to a shared definition: Note 4; investing.
  46. Not reported in this filing: Not printed: the 2025 consolidated statement of cashflows (p69) has no 'Additions to other non current assets' line; investing lines are Additions to and replacement of property and equipment, Additions to intangible assets, Additions to financial assets, Additions to investment property, Proceeds from sale of financial assets, Interest income and Dividend income. Checked on the page image.
  47. Annual report dated 2025-04-15 presents this line for this year: - (p79). Not shown in this column, which follows one filing's presentation.

Per share and shares

Per share and shares. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025; FY2023 — annual report (signed / final), comparative reported in the annual report for 2024.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filingsource limitationsFY2023Annual reportcomparative in FY2024 filingsource limitations
Earnings / (loss) per share (per share)5 0.04221 0.012523 0.02164
Profit / (loss) attributable to shareholders (USD units)7 4,552,266 1,352,3936 2,327,710
  1. Printed as 4.22 cents; value converted to USD at 100 cents = 1 USD.
  2. Printed as 1.25 cents; value converted to USD at 100 cents = 1 USD.
  3. Printed as 2.16 cents; value converted to USD at 100 cents = 1 USD.
Notes and alternative reported figures (4)
  1. Annual report dated 2025-04-15 prints 5.59 (units, p77) for this line and year.
  2. Earnings / (loss) per share: printed as “Basic and diluted earnings per share (cents)”.
  3. Annual report dated 2025-04-15 prints 6 028 973 (units, p77) for this line and year.
  4. Profit / (loss) attributable to shareholders: printed as “Owners of the parent”.

Segments

Segment data not yet collected for this company in the pilot.

Dividends

Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.

No dividend statement or amount collected.

Sources

Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.

  • Fidelity Life Assurance Annual Report 2025 — Expanding Reach, Deepening Impact

    Year ended 31 December 2025 · Annual report · signed / final

    Audit: Grant Thornton Chartered Accountants (Zimbabwe), qualified opinion · signed

    Auditor's sign-off: Grant Thornton, Farai Chibisa, Partner, Registered Public Auditor (PAAB No: 0547)

    Final status: Independent auditor's report of Grant Thornton on the consolidated financial statements (pages 64 to 168), qualified opinion (PDF p61, page image; the report pages are image-only), closed with a handwritten 'Grant Thornton' signature above 'Farai Chibisa, Partner, Registered Public Auditor (PAAB No: 0547)', dated 31 March 2026 (PDF p64, page image). The directors' approval on 27 March 2026 carries handwritten signatures of the Chairman (L. T. Gwata) and Managing Director (R. Chihota) (PDF p59, page image), as does the consolidated statement of financial position (PDF p65).

    Document date
    31 Mar 2026
    Auditor's report
    31 Mar 2026
    Board approval
    27 Mar 2026
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2025, FY2024
    Basis
    consolidated statements · USD units (printed “USD (column headings)”)
    • The auditor (Grant Thornton, Zimbabwe) gave a qualified opinion on Fidelity Life Assurance of Zimbabwe Limited's consolidated financial statements for 2025. Except for one matter, the auditor found they present fairly. The matter: after the Group refined its IFRS 17 models, the auditor could not reconcile certain movements and so could not tell whether insurance contract liabilities and insurance finance expense needed adjusting. The auditor also drew attention to the restatement of the 2024 comparatives for the same IFRS 17 refinements. Figures are shown as published. (auditor's report, PDF p61; verified on the page images 2026-10-08)
    • Basis: Basis for Qualified Opinion (PDF p61).
    • The 'Emphasis of matter – Basis of Accounting' on PDF p171 belongs to a separate Grant Thornton report on the consolidated special purpose ZWG annual financial statements (PDF pp170-172, prepared under the Monetary Policy Statement of 6 February 2025 and ZSE Directive of 12 March 2025), not to the report on the US-dollar consolidated statements transcribed here; it says those special purpose statements may not be suitable for another purpose (p171)
    • Qualified opinion (PDF p61): as disclosed in note 43, the group continued to refine its IFRS 17 modelling and the auditors were unable to reconcile certain movements, so could not determine adjustments that might be needed to insurance contract liabilities and insurance finance expense; material but not pervasive.
    • Equity attributable to ordinary shareholders is negative both years ((9 313 638); 2024: (13 809 850)) owing to a foreign currency translation reserve of (32 028 277).
    • Page 66's text layer is letter-spaced in most rows; those rows are read on the page render (visual_only) and checked by the printed subtotals. The unlabelled total comprehensive income line printed below OCI (8 065 863; 2024: 4 676 852) and 'Total profit for the period' (7 872 765; 2024: 1 720 501) on PDF p67 repeat figures transcribed from their labelled lines and are not transcribed again.
    • 2024 comparatives of the statement of financial position and profit or loss are headed 'AUDITED RESTATED' (note 14: IFRS 17 insurance contract liabilities increased by USD 4 676 580 at 31 December 2024, with the same increase in insurance finance expenses). The cash-flow comparative is headed 'AUDITED' only and is not marked restated.
    Technical details
    File
    254 pages, with a text layer
    SHA-256
    7a78885d1d2f64d48dd0abb4750afa15a3492c9a3f87efa112ce739e57e559f9
    Entity as printed
    Fidelity Life Assurance of Zimbabwe Limited and its subsidiaries (the Group)
    Issuer copy
    retrieved 2026-10-08T20:39:04Z

  • Fidelity Life Assurance of Zimbabwe Annual Report 2024

    Year ended 31 December 2024 · Annual report · signed / final

    Audit: Grant Thornton Chartered Accountants (Zimbabwe), qualified opinion · signed

    Auditor's sign-off: Grant Thornton, Farai Chibisa, Partner, Registered Public Auditor (PAAB No: 0547)

    Final status: Independent auditor's report of Grant Thornton on the consolidated financial statements (pages 74 to 155), qualified opinion (PDF p70), closed with a handwritten 'Grant Thornton' signature above 'Farai Chibisa, Partner, Registered Public Auditor (PAAB No: 0547)', dated 15 April 2025 (PDF p74, page image). The directors' approval on 28 March 2025 carries handwritten signatures of the Chairman (LT. Gwata) and Managing Director (R. Chihota) (PDF p68, page image).

    Document date
    15 Apr 2025
    Auditor's report
    15 Apr 2025
    Board approval
    28 Mar 2025
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2023
    Basis
    consolidated statements · USD units (printed “USD (column headings)”)
    • Basis for Qualified Opinion: (1) non-compliance with IAS 21 on the change of functional currency from ZWL to USD on 1 January 2024 — the 2023 comparatives were translated by separating USD and ZWL components rather than at the closing rate, so 31 December 2024 balances of retained earnings, property and equipment, investment property, inventories, revaluation reserve, foreign currency translation reserve, insurance reserve and insurance contract liabilities may contain misstatements carried forward; (2) the new IFRS 17 systems need further enhancement of modelling and data outputs, which may adjust insurance contract liabilities and the related insurance revenue and service expenses; material but not pervasive (PDF pp70-71)
    • Basis: Basis for Qualified Opinion (PDF pp70-71).
    • The insurance reserve is printed above 'Total ordinary shareholder's equity' and included in it (FY2025 prints it below). 'Total profit for the period' and the second 'Total comprehensive income for the period' on PDF p77 repeat transcribed totals and are not transcribed again.
    • All 2023 comparatives are headed 'Restated 2023*': previously presented in ZWL and translated to USD (statement footnotes), and restated under note 14 (14.1 audited results of the Malawi subsidiary; 14.2 IFRS 17 per-policy actuarial engine) (PDF p121).
    Technical details
    File
    245 pages, with a text layer
    SHA-256
    1a52469224b370b7076db23b2709d6096768a08480b59764edfec17e1340ce8d
    Entity as printed
    Fidelity Life Assurance of Zimbabwe Limited and its subsidiaries (the Group)
    Issuer copy
    retrieved 2026-10-08T20:39:32Z

Data notes

No figure-level notes beyond those in the tables.

Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text; read from the page image) (17 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.

Download

Figures shown on this page (CSV) — the same selected figures at their exact printed values, each with its source document, SHA-256, page, selection rule and reading. Independent review of these figures is pending.

· Company methodology and coverage