Fidelidade Ímpar insurance company announced in its annual report that its profits will increase by 7.9 per cent in 2023, to 628.5 million meticals.
‘In terms of the Mozambican insurance market, 2023 represented a moment of affirmation for the Fidelidade Ímpar brand and consolidation of market share,’ says the organisation, according to which last year gross premiums written (revenue) grew by 11.4% to 3.2 billion meticals compared to 2022.
‘Life insurance fell by 1.9 per cent to 343 million meticals and non-life insurance grew by 13.4 per cent to 2.9 billion meticals,’ it said.
The information published on Monday 6 May by Lusa reveals that in 2023, the insurance company’s board of directors has proposed investing 50% of profits in reserves and the remaining 50% in dividends to shareholders.
With 231 employees and more than 369,000 customers, Fidelidade Ímpar Moçambique is 70 per cent owned by the Portuguese insurance company Fidelidade-Companhia de Seguros, and 22 per cent by Banco Internacional de Moçambique (Millennium bim, part of the Portuguese group BCP), among other small shareholders.
The Fidelidade Group is 84.99 per cent owned by the Fosun Group, through Longrun Portugal, and 15 per cent by Caixa Geral de Depósitos.
