Overview
A leading financial services institution
We are a leading financial services institution founded on the principles of consumer engagement and wellness. Our approach to financial products is highly differentiated and involves integrating our entire product range with our science-based wellness programme, Vitality. The integration with Vitality has enabled us to improve our competitive position by offering unique products with better benefits and at a lower price than our competitors.
In South Africa, we operate in the health insurance market through Discovery Health, the life assurance market through Discovery Life, the financial services market through Discovery Invest and DiscoveryCard and in the wellness arena through Discovery Vitality. All operating subsidiaries are 100% held.
In the United Kingdom, we offer consumer-engaged health and life insurance products through PruHealth and PruProtect. Our joint venture with Prudential plc has successfully leveraged Discovery’s Vitality-integrated approach in both markets.
In the United States, we launched a stand-alone version of our leading wellness programme, Vitality, which is being sold to self-insured, large employer groups and to healthcare carriers. Through this model, we are able to capitalise on the continuing trend towards wellness in the US.
During December 2009, we entered into a non-binding term sheet to acquire up to 24.99% stake in Ping An Health Insurance Co. of China Ltd, a wholly-owned subsidiary of Ping An Insurance (Group) Company of China, Ltd. Ping An Group is the second largest insurer in China, and with a market capitalization of 292 billion Yuan (R319 billion) the third largest in the world.
Discovery Holdings listed on the JSE in 1999 and has no other listings on local or international equity or debt exchanges.
Our core purpose and values
At Discovery, we believe we can make a meaningful difference in the lives of people through our products and services and the way we manage our business. Our core purpose is therefore to make people healthier and to enhance and protect their lives. To deliver on this purpose, a set of values guides how we do business and how we interact with our stakeholders. These values are:
- Innovation and optimism
- Business astuteness and prudence
- Great people
- Liberating the best in our people
- Integrity, honesty and fairness
- Intellectual leadership
- Tenacity, urgency and drive
- Dazzle clients.
