Housing product bolsters Fidelity income

FIDELITY Life Assurance of Zimbabwe is broadening its product portfolio to reduce reli­ance on its Vaka Yako plan, as elevated claims contributed to a sharp decline in half-year earnings.

FIDELITY Life Assurance (FLA) says its Vaka Yako housing product continues to drive new business, contributing 80 percent of its life and pensions business revenue. Launched in 2022, the Vaka Yako product enables individuals in Zimbabwe to progressively acquire a stand or house, with monthly payments starting at US$45. Ideally, the group treats the housing…

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