Discovery Posts 30% Annual Profit Rise on South African Insurance Growth

Discovery Holdings Ltd., a leading South African health insurer, reported a 30% increase in full-year profit, driven by strong growth across its operations and its Vitality franchise. The company’s normalised headline earnings rose to approximately 9.8 billion rand ($559.75 million) for the year ended June 30, 2025, up from 7.5 billion rand the previous year. Operating income improved by 29%, supported by a better claims ratio, while Discovery Bank saw a 42% revenue increase and a significant reduction in operating losses. Despite a prior decline in new business premiums, the company demonstrated resilience through solid capital ratios and liquidity and expects to exceed its medium-term profit growth targets in 2025. Additionally, Discovery declared an interim dividend, reflecting confidence in ongoing financial strength. The consolidation of its global wellness program into a single business has further contributed to its record profit performance.