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/ 26 February 2008

Discovery says unit to quit US retail insurance

South African health insurance firm Discovery said on Tuesday its loss-making United States unit Destiny Health would quit the US retail insurance market. Discovery said Destiny would continue to market its Vitality product to employer groups and health plans, but would transfer its insured block of business to a health insurance carrier.

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/ 28 September 2007

Discovery could face millions of rands in claims

Three hundred former and present members of Discovery Health are suing the insurer for R852 000 in connection with an ancillary fee that they believe was charged illegally. But the group spearheading the action believes the company could be sued for up to R692-million should it succeed in its action, which they say could establish a precedent.

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/ 4 September 2007

Local deals help lift JSE

The JSE was a bit firmer by midday on Tuesday as a number of local deals buoyed sentiment for buyers. The local bourse was also getting positive direction from the FTSE, which was down in early trade, but recovered during the morning. By midday on the JSE, the all-share index was up 0,30%.