Fidelity Life diversifies as profits slide

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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. The Vaka Yako product, which is linked to resi­dential stand development, has become a dominant contributor to the insurer’s business, exposing the group to concentration risk.…