Over the past two and a half decades, Fidelidade Macau has thrived in an evolving insurance landscape. The insurer aims to become even stronger, enhance the quality of its services, develop solutions for industry challenges, and continue making positive contributions to Macau society.
Authorised to provide life and non-life insurance services just months before the establishment of the Macau Special Administrative Region, Fidelidade Macau has consistently added value, expanded its portfolio, and strengthened its ties with local and international communities over the past quarter-century, building on a history that spans 216 years.
“The company’s presence in Macau is a testament to its ability to adapt and thrive in the evolving insurance landscape,” emphasises Fidelidade Macau CEO Paulo Barbosa. Over these 25 years, the insurance company “has weathered economic cycles, regulatory changes, and shifting consumer demands—yet it has increased its market position and continued serving its policyholder base,” he notes.
Recognition and loyalty are key words along this journey. “We reach this milestone with a strong brand reputation, a loyal customer base, and robust operational capabilities, demonstrating our commitment to the modern Macau financial market and our strategic focus on developing high-quality products with customer service driven by a sustainable approach,” Mr. Barbosa adds. At the core of Fidelidade Macau’s mission is “a continued commitment towards employees, customers, stakeholders, and friends, always in pursuit of excellence.” This commitment is reflected in the local and international recognition of the company as a leading life and non-life insurer in the SAR.
Fidelidade Macau Executive Director Ivan Cheung stresses that the company “is celebrating not only its anniversary but another year of success.”
In 2023, the group saw robust growth in its Gross Written Premiums (GWPs) in both the life and non-life segments, with 15.8 percent and 27.3 percent expansions compared to 2022. Also last year, US financial rating agency Fitch upgraded Fidelidade Macau’s Insurer Financial Strength (IFS) rating to ‘A’ (Strong) from ‘A-’ (Strong) with a Stable Outlook.
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“This is a reminder that our greatest asset is our united and unstoppable team, responsible for our success, built on dedication, teamwork, and unwavering determination, turning challenges into opportunities and dreams into reality,” Mr. Cheung noted. Over the years, the life insurance segment has witnessed a solid and widely recognised performance. In 2020, after 21 years of providing life insurance and pension fund services in Macau as a branch of Fidelidade – Companhia de Seguros S.A., a local Life Insurance Company was incorporated, ensuring a stronger corporate presence in the region.
A leading provider of innovative solutions
The company’s life insurance product portfolio includes a wide range of personal insurances, such as life protection, mortgage, education, savings, and retirement plans. Fidelidade is also authorised to manage both private pension funds and the non-mandatory central provident fund.
In the general insurance segment, a new subsidiary was formally incorporated in the SAR, Fidelidade Macau – Insurance Company Limited, in 2015. The company’s personal insurance portfolio comprises personal accident, household, fire, motor, hospital, travel, and other products. In commercial insurance, Fidelidade is a leading provider of innovative and comprehensive solutions, serving the needs of corporate customers in various sectors, meeting the increasing demands of organisations established in Macau.
Life insurance Business
Non-life insurance business
For Fidelidade Macau, successful business performance is coupled with a strong commitment to sustainability and social responsibility. The group’s Environment, Sustainability, and Governance (ESG) pillars address challenges related to longevity, ageing, climate change, and financial illiteracy, which impact all Macau communities.
On the corporate social responsibility front, the company has been deeply involved and supportive of key initiatives such as the “Charity Run” held by Caritas Macau, the Continuing Professional Development Programme for Insurance Intermediaries, and the “929 Challenge” Startup Competition.
Looking ahead, the company is confident in its future development and success. “We remain committed and prepared for the next decades, to make this company even stronger, improve the quality of insurance services, create solutions to the challenges of the insurance industry, and make positive contributions towards Macau society,” Ivan Cheung emphasises.
