In February of this year, Discovery Health Medical Scheme reached the 25% solvency target that is required by the South African Council for Medical Schemes. Medical schemes are required to retain 25% of members contributions as a guarantee that they will be able to fulfil their responsibilities in terms of paying out on claims.
www.discovery.co.za
Discovery's reserve now stand at R5.2 billion which satisfies the 25% requirement and Adrian Gore said that 82.8 percent of the reserves have been invested in a money market portfolio, 15.8 percent in cash while 1.4 percent was in equities.
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