Where Is Discovery, The South African Company, Generating Profits?

Discovery is a global, integrated financial services organisation that uses a pioneering Shared-value model across businesses with operations in 39 markets globally.

Discovery has leveraged fintech, actuarial and behavioural science for more than two decades to deliver on its core purpose – To make people healthier and enhance and protect their lives.

The JSE-listed company has more than 13 700 people employed across the group.

The company has over 40.5 million lives impacted globally.

The company founded and led by Adrian Gore is valued at R98 billion on the JSE.

Discovery builds market-leading businesses from the ground up through its disruptive Shared-value model.

The organic growth of its businesses has the potential to transform the industries in which it operate.

To achieve this, Discovery maintain a founder’s mindset, aiming to create a compelling value proposition for clients through innovative products that address complex issues.

“Our shared-value approach is central to each business and remains scalable, repeatable and globally relevant. Our Vitality behavioural platform can be applied to any institutional capability, including banking, savings, health, life or other insurance in a Discovery-owned business or through our strategic partnership.”

In line with its core purpose of making people healthier, Discovery aim to achieve one billion healthy activities per annum by 2030.

In 2023, the company recorded 503 million healthy activities, with over two million life years saved and R13.7 billion in value returned to clients.

For the year ended 30 June 2023, normalised operating profit increased by 24% to R11.6 billion and normalised headline earnings increased by 32% to R7.6 billion. Core new business annualised premium income was up 12%1 to R22.7 billion, with particularly strong growth from the SA and UK composites. Persistency continued to exceed expectations in all businesses.