Fidelity Life lifts annual profit 43%, boosted by sale of super fund

Mon, 07 Nov 2016

By Paul McBeth Nov. 7 (BusinessDesk) - Fidelity Life Assurance, the country's third-biggest life insurer, lifted annual profit 43 percent as it grabbed market share and benefited from the sale of a superannuation fund it managed. Net profit rose to $34 million in the 12 months ended June 30 from $23.8 million a year earlier, the Auckland-based company's financial statements show. That included a $6.4 million contribution from discontinued operations, being Fidelity's former Super-Super Plan, Number 3, a retirement scheme it used to manag...

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