Discovery’s annual profit rose 30% to a record, paced by a jump in its South African health-insurance businesses and its Vitality franchise that benefited from folding the global wellness programme into a single business.
The insurer’s banking unit slashed its operating losses, and marked its first profitable period during the second half of the financial year, after it added richer clients, the insurer said. Growth in the company’s UK business also helped boost earnings.
The company proposed a final dividend of 2.01 rand per share.