DSY - Discovery Holdings Limited - Prudential Inte
DSY
DSY
DSY - Discovery Holdings Limited - Prudential Interim Results 2007
Discovery Holdings Limited
Incorporated in the Republic of South Africa)
(Registration number: 1999/007789/06)
ISIN: ZAE000022331
Share Code: DSY
("Discovery" or "the company")
Prudential Health Limited ("PruHealth") is Discovery`s joint venture in the
United Kingdom, owned equally by Discovery and Prudential plc.
Shareholders are referred to the announcement by Prudential plc earlier today of
results for the six months ended 30 June 2007, which contains the following
information in respect of PruHealth:
"Market review and summary of strategy
Through PruHealth, its joint venture with Discovery, the leading South
African health insurer, Prudential UK is building a health insurance
business which rewards those customers who lead healthier lives through the
Vitality points system. PruHealth is on track to meet its target of becoming a
significant player in the private healthcare market with insured lives of more
than 117,000 up 31 per cent on the 2006 year-end position.
The joint venture is being expanded to include Prudential UK`s protection
product, expanding Vitality across both health and life insurance products later
in 2007.
Financial Results and Performance
PruHealth has continued to make encouraging progress during the first half of
2007. Gross written premiums have increased by 91 per cent to GBP32
million compared with the comparative period last year. PruHealth has
extended its distribution footprint through a partnership with Boots the
Chemist, and quotes and applications under this agreement have been
building steadily during the second quarter. Importantly, PruHealth`s lapse and
claim ratios are in line with expectations."
Further information in respect of PruHealth will be provided in Discovery`s
results for the year ended 30 June 2007 to be released on 4 September 2007.
Sandton
01 August 2007
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 01/08/2007 10:19:01 Produced by the JSE SENS Department.
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