JOHANNESBURG - South Africa's largest medical scheme administrator, Discovery, has seen a surge in profits with most of the COVID-19 impact now behind it.
The Insurer says relatively lower prices also helped it carve out additional market share.
Headline earnings jumped 74% to just over R5 billion in the group's year to end-June.
The COVID pandemic hit the insurance industry hard, forcing it to set aside billions of rand to cover future claims.
However, the threats have now eased due to the latest variants of the virus being less deadly.
South Africa's largest medical scheme administrator, Discovery, has seen a surge in profits with most of the COVID-19 impact now behind it. The Insurer says relatively lower prices also helped it carve out additional market share. pic.twitter.com/xlS7twTZFx
— eNCA (@eNCA) September 7, 2022