The group expects it will need the amount for claims and policy lapses as Covid-19 hits SA’s economy
Health insurer Discovery says it is putting aside R3.3bn and will be holding onto dividends as it braces for the fallout from Covid-19 in coming years.
Two thirds of the expected effects are from mortality and morbidity effects, and a third economic. Lapses refer to policies ceasing due to lack of payment. The group noted that the situation remained volatile, and it would be both updating its modelling, and considering the reintroduction of dividends “when appropriate”.
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