Fidelity Life celebrated a solid result for the 2019 financial year as it stepped up its customer-focused transformation.
The firm revealed that its total comprehensive income jumped to $20.7 million in 2019 from $16.7 million last year – which has been driven by an $8.2 million (before tax) uplift in net premium revenue to $150.3 million, a focus on operating expenses, and positive movement in interest rates.
Nadine Tereora, chief executive officer of Fidelity Life, said the FY19 results prove that the firm is in good shape as it “embraces unprecedented regulatory and technology changes and builds for the future.”
“We’re investing in a platform for future growth built around our customers. Our goal is to set the business up for a sustainable and successful future, with our customers at the heart of everything we do. While there’s plenty more work to do, I’m proud of what we’ve achieved so far on our transformation journey,” Tereora said.
Tereora confirmed that they’re also focusing on helping financial advisers transition to the new financial advice licensing regime.
“We’ve developed some outstanding professional development capabilities and resources to help advisers make the transition to the new regime, with our Building Better Businesses programme the flagship,” she said.
“The aim is to ensure advisers have sustainable businesses, and ultimately work in partnership with us to deliver good outcomes for Kiwis.”
