Discovery's ownership of a life insurance business, a medical aid scheme and a bank at the same time could have had disastrous outcomes in the company's financial year ended on 30 June had death claims, lapses and hospital admissions spiked. If the company's relatively new banking operations had an aggressive lending book, or if its customers were not consciously trying stay with good credit scores, credit impairments would have added more woes. But when it reported its results on Wednesday, CEO Adrian Gore was chuffed by the less-than-expected death claims, the plummet in hospital admissions among Discovery Health Medical Scheme members and customers holding on to their motor insurance even when they are driving less.

Source: News 24 September 17, 2020 06:11 UTC