FANews
FANews
RELATED CATEGORIES
Category Healthcare
SUB CATEGORIES General  |  HIV |  Medical Schemes | 

Rating reaffirmed

22 September 2004 Angelo Coppola

International credit rating agency Global Credit Ratings (GCR) has reaffirmed the Discovery Health Medical Scheme (DHMS) domestic claims paying ability rating of AA- (double A minus).

This is defined as having a very high certainty of timely payment and is the highest rating attainable in the South African Medical Scheme sector. In addition, GCR has placed DHMS’s rating on a positive outlook.

DHMS displays the largest risk pool in the open medical schemes industry, providing cover for more than 1.5 million lives.

According to Marc Joffe, a senior snalyst at GCR, cognisance was taken of the favourable age profile and well diversified membership base.

Furthermore, the substantial increase in reserves and solvency, coupled with an increase in liquidity was positively considered.

Joffe also stated that cognisance was taken of DHMS’s continued positive performance for the 2004 year to date, which has served to further improve solvency and increase the probability of complying with the 25% statutory solvency requirement by the end of 2004 and going forward.

Quick Polls

QUESTION

Which aspect do you think is most critical for the future success of financial advisory firms?

ANSWER

Embracing technological advancements
Rethinking fee structures
Focusing on inter-generational wealth transfer
fanews magazine
FAnews June 2024 Get the latest issue of FAnews

This month's headlines

Understanding prescription in claims for professional negligence
Climate change… the single biggest risk facing insurers
Insuring the unpredictable: 2024 global election risks
Financial advice crucial as clients’ Life policy premiums rise sharply
Guiding clients through the Two-Pot Retirement System
There is diversification, and true diversification – choose wisely
Decoding the shift in investment patterns
Subscribe now