Discovery was particularly affected by the NHI’s singing, while other South African medical insurers with a more diverse portfolio seemed to stem investor jitters.
Discovery has dropped over 18% this year, compared with a 2.7% increase in the FTSE/JSE Africa All Share Index. Avior Capital Markets analyst Adrienne Damant said that under the NHI Bill, one of Discovery’s key divisions will no longer be allowed to operate.South Africa’s FTSE/JSE Health Care Providers Index was among the biggest decliners on the Johannesburg stock exchange Tuesday, with hospital operator Netcare leading a retreat in the sector, falling 5.7%, the most since April 2023.
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