FIDELITY Life Assurance Company (Fidelity) were the big winners, scooping the 2011/12 Zimbabwe Independent Quoted Companies Survey Award at a ceremony in Harare last night after being voted the best insurance company last year.Fidelity clinched the top spot in the quoted company rankings by virtue of a high, three-year compounded annual growth rate (CAGR) of 122,17% for its share price and returning 35,29% to its shareholders in 2011. The company has delivered rising profitability with earnings showing strong resilience after producing a strong technical result.
Fidelity has also delivered phenomenal price growth since dollarisation with 2011’s performance being even more exceptional.
Its share price rose by more than 600% in 2011 and 35,29% between March 2011 and March 2012.
Among other sector winners were BAT, FBC, Delta, Falgold, TN, OK Zimbabwe and Mashonaland Holdings.