South African health insurance group Discovery (DSY) remains excited by the potential of the Chinese private health insurance market in the long-term, CEO Adrian Gore said on Tuesday.
He said that over the past six months, significant work had taken place to operationalize Ping An Health, the joint venture between Discovery and the Ping An Group of China, the world's second-largest insurance company.
“During the period under review, the necessary regulatory approvals were received from the Chinese Insurance Regulatory Commission. Operationally, the process of transferring the necessary product and system capabilities to Ping An Health began, with the Discovery team deployed successfully.
“From a product perspective, significant work has taken place to tailor the Discovery capabilities to the Chinese market and we remain excited by the potential of the Chinese private health insurance market in the long-term,” Gore told the group's interim results presntation. - I-Net Bridge