Slide 1: Results for the six months ended 31 December 2020
for the six months ended 31 December 2020 1 1
Slide 2: Group results highlights
PARTNER SA COMPOSITE MODEL UK COMPOSITE MODEL COMPOSITE MODEL Health Invest Life Normalised operating Core new business API COVID-19 provisions Headline earnings Normalised headline profit earnings to R4 507m to R9 916m unchanged to R1 842m to R2 284m +8% including DH take-on of new closed schemes a
Slide 3: Discovery COVID-19 data to date
Discovery data to date Deaths across 70,000 20,000 DH, DL and VL 18,000 60,000 16,000 Tests 50,000 conducted 14,000 12,000 40,000 Confirmed New cases New cases 10,000 positive cases 30,000 8,000 Members 20,000 6,000 admitted 4,000 10,000 2,000 Staff deaths - - 10-Nov-19 26-Apr-20 07-Jun-20 22-Nov-20
Slide 4: Our strategic response to the pandemic
Our strategic response to the pandemic GP initiated COVID-19 COVID-19 SA vaccine DISCOVERY Wellbeing Vitality Oximeter virtual information Business COVID Alert programme Connected talks at Home at Home benefit consults hub Support SA app support Care COVID-19 concessions till Dec 20 Keep every staff
Slide 5: UK second wave more severe nationally than for VitalityLife
UK’s second wave was a lot more severe on a national level than for VitalityLife, but tapering off Second wave tapering off COVID-19 variant more severe VitalityLife had higher mortality in the first wave, in FY20 COVID-19 infections and deaths UK distribution of strains VL COVID-19 related deaths 7
Slide 6: SA's second wave more severe but rapidly decreasing
SA’s second wave also more severe but rapidly decreasing SA’s second wave more serious than first, and started in Comparison between waves using Discovery data holiday season Higher socio-economic classes hit harder South Africa daily new infection trends 25,000 600 Deaths DL and DH 1.5x peak wave 1
Slide 7: Behaviour and a new variant contributed to a second wave
Behaviour and a new variant contributed to a second wave Mobility increased early December Spike in young infections post-matric COVID-19 variant 40-50% more as SA entered holiday season celebratory events and spread to other transmissible members Google mobility trends report Positive tests per mil
Slide 8: Understanding immunity
Understanding immunity Expect majority of excess deaths to be due to COVID-19 Expect 51-57% population infected RSA (natural) excess deaths and reported confirmed COVID-19 deaths Deaths = [ Population infected ] x [ Infection Fatality Rate ] 20 000 ∴ Population infected = [ Deaths / Infection Fatali
Slide 9: Understanding reinfection rates
Understanding reinfection rates Concerns about reinfection rates Discovery Health data suggests very low reinfection risk, even with second variant Reinfections = [ Confirmed positives in wave 1 ] x [ Reinfection rate for those who have recovered ] x Confirmed positives [ Probability of testing posi
Slide 10: Factors that influence COVID-19 waves
Factors that influence COVID-19 waves COVID Wave = (1-Immunity) x P(contact) x Risk index Herd immunity Behaviour Resilience index Reinfection rates COVID-19 variants Vaccines Community prevalence 10
Slide 11: The likelihood of a third wave
The likelihood of a third wave Projected deaths vs Incremental deaths under the medium scenario Total second wave deaths expected Scenarios assume IFR = 0.39% and 1/3 reinfection Feb-Jun Jul-Dec deaths 2,000 1,800 1,600 Second wave run-off 0.2x 0x 16.6k 1,400 1,200 1,000 Super spreader at 800 600 Ea
Slide 12: Robust operating performance with prudent COVID-19 provision
1 Robust operating performance with prudent COVID-19 provision
Slide 13: Operating profit and new business by composite
Operating profit New business R4.5bn R10.9bn Rm Continued operational excellence with significant support to 1 670 +6% 3 167 1 -5% members and society Excellent operating performance and positive variances delivering 1 922 +3% 1 162 -6% growth on an optimised capital base SA Composite High-quality e
Slide 14: COVID-19 provisions back to R3.4bn in December 2020
COVID-19 provisions back to R3.4bn in December 2020 Life insurance Health insurance £69.8m R2 160m £64.9m Invest R1 953m Invest 1 023 lapses 956 claims 30-Jun-20 Claims and lapse Net new and new 31-Dec-20 30-Jun-20 Net movement New business Additional 31-Dec-20 unwind business COVID-19 in claims and
Slide 15: Currency and interest rates volatile over the period
Currency and interest rates volatile over the period Rapid strengthening of the rand Sustained elevated long-term interest rates in SA in USD average in GBP average vs Dec 19 vs Dec 19 Spot vs Average real rates: 20-year point 26 6% 24 5% 22 4% 20 vs Jun 20 3% 18 closing GBP 2% 16 14 1% vs Jun 20 0%
Slide 16: Reported profit affected by currency and interest rates
Reported profit for period affected by currency and interest rates 6 months 6 months Rm ended ended % Recon Dec 20 vs Dec 19 growth Dec 2020 Dec 2019 Normalised profit from operations before economic 4,507 3,792 19% Currency Interest assumptions adjustments +19% -10% Interest -1% Economic assumption
Slide 17: Operating model performing well and driving growth, with strength in capital and liquidity
2 Operating model performing well and driving growth, with strength in capital and liquidity
Slide 18: Group operating model
Group operating model Group profit growth Growth Engine Cash Management Cash Cash ESTABLISHED generated used Normalised Tax ~5 years Operating <50% Cash Profit per Funding spent business New Finance EMERGING business costs and dividends ~5 years New Capital businesses NEW Regulatory capital and Allo
Slide 19: Operating profit: Established, Emerging and New businesses
Operating profit R4.5bn Strong growth from Emerging and slowing Rm investment in New 1 670 +6% 500 +81% 1 922 +3% ESTABLISHED BUSINESSES +50% 250 +71% 471 -3% 0 Health insurance 613 +24% -250 Life insurance 327 +206% H1 2017 H1 2018 H1 2019 H1 2020 H1 2021 Established 5 003 +10% 107 +43% 1,200 +81%
Slide 20: New business: Established, Emerging and New
New business R10.9bn Emerging and New contributed to strong Rm total new business API 3 167 1 -5% 4,000 1 162 -6% +24% ESTABLISHED BUSINESSES 3,000 +20% 1 316 -3% +55% 2,000 +30% 32% Health insurance 638 +4% 1,000 5 yr CAGR - Life insurance 561 -13% H1 2017 H1 2018 H1 2019 H1 2020 H1 2021 Establishe
Slide 21: Emerging and New contribute significantly to revenue and membership growth
Despite small earnings contribution from Emerging and New, they contribute significantly to revenue and membership growth “Revenue” Total new business API “Revenue” share Total new business 45,000 12,000 API share 40,000 10,000 13% 16% H1 2018 35,000 30,000 8,000 87% 84% 25,000 6,000 20,000 1% 9% H1
Slide 22: Emerging businesses are scaling and creating value
Emerging businesses are scaling and creating value Strong growth from Emerging Operating profit Rm 457 Operating profit Operating profit Operating profit 253 169 99 -114 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 H1 2017 H1
Slide 23: New businesses continue to see considerable traction
New businesses continue to see considerable traction % in New decreasing Bank VitalityInvest Umbrella Funds DBI Vitality1 26% 22% New business New business APE New business 15% 5% 7% R6.1bn +95% +123% ZAR +247% +77% New market Retail deposits to £151.2m to R592m to R124m H1 H1 H1 H1 H1 launches over
Slide 24: Cash management supports the growth methodology
Cash management supports the growth methodology Cash Cash generated Funding used Cash generated from in-force R0.9bn Tax and finance Reinsurers costs Net cash generated from Debt R1.5bn in-force business Cash used net of funding New business R5.8bn R3.9bn New businesses Net cash flow R0.9bn Net cash
Slide 25: Group is well capitalised and highly liquid
Group is well capitalised and highly liquid Highly liquid across Sufficient liquidity Strongly capitalised FLR is within target the Group2 at the centre Liquid excess assets above regulatory capital requirements FLR R millions SA Liquidity3 , R millions Dec 19 Dec 20 Rm Cover Cover 29% 28% 14,000 2,
Slide 26: Group Embedded Value
Group Embedded Value Annualised ROEV, 11.7% excluding forex and economic changes Positive non-economic Operational EV Economic impact Initiatives and other experience variances R75 992m Life R73 424m R72 467m Health and VH VL Total Invest R70 834m Lapses* -36 375 67 193 599 Renewal 102 13 80 25 220
Slide 27: A pivot to growth following trends emerging through COVID-19
3 A pivot to growth following trends emerging through COVID-19
Slide 28: Shared-Value dynamics manifest across all industries
Shared-Value dynamics manifest across all industries LONG-TERM LIFE HEALTH MOTOR BANK SAVINGS PRODUCTS TRANSACTIO CREDIT VISA SAVINGS N DYNAMIC DYNAMIC DISCO DISCOUNTS INTEREST VERY RATES MILES MONEY INCENTIVE LAYER VITALITY MONEY POINTS VITALITY MONEY STATUS DEBT SPEND ACTIVE BEHAVIORAL LAYER MANAG
Slide 29: The three trends accelerated by COVID-19
The three trends have been accelerated by COVID-19 Focus on wellness Health first and resilience Empowered customers Mortality The rise of digital Morbidity Ways of work Importance of Healthcare ecosystems Driving Investing Ecommerce healthcare Preventative services Telemedicine Banking Contactless
Slide 30: Importance of physical activity on health and risk
Importance of physical activity on health and risk Changing measurements to Causal impact of changing Impact on hospitalisation Impact on mortality more sophisticated health physical activity levels measures Extending beyond activity to Bayes Network model Adjusted and standardised healthcare Mortal
Slide 31: Understanding resilience
Understanding resilience Impact of health and lifestyle on COVID-19 related risk COVID-19 mortality by Vitality status COVID-19 mortality risk by level of physical activity engagement Life COVID-19 mortality Only clients with at Only clients over rate by Vitality status least one comorbidity age 60
Slide 32: Building and curating a wellbeing ecosystem
Building and curating a wellbeing ecosystem Collaborative model assisting customers to manage their health by combining data, incentives, personalisation and providers CONSUMERS Institution Personal pathways CONSUMER BEHAVIOURAL CHANGE & ENGAGEMENT GATEWAY CONNECT GATEWAY GUIDE GATEWAY EXCHANGE MEDI
Slide 33: Discovery Health's platform
Discovery Health’s platform 33
Slide 34: Comprehensive Digital Health Ecosystem
Comprehensive Digital Health Ecosystem – all in production, fully integrated into products and the administration/claims platform ASSETS KNOW YOUR WELLNESS AND CARE AND HEALTH PREVENTION TREATMENT HEALTHID DOCTOR CONNECT INTEGRATED ELECTRONIC VIRTUAL CONSULT PERSONAL AR2020 + VIRTUAL CARE HEALTH REC
Slide 35: Growth of digital platforms
Growth of digital platforms 35
Slide 36: Addressing social issues through the Shared-Value model
Addressing social issues through the Shared-Value model INSURED Better health, incentives and a “It’s an lower cost of insurance opportunity“ “Let’s Addressing societal define needs and CORE PURPOSE a purpose“ challenges through the business itself, “Let’s solve Answering with a business the Make pe
Slide 37: Discovery's climate strategy and impact
Discovery’s climate strategy and impact Discovery’s emission profile Comparison to JSE Large Cap SHORT TO MEDIUM TERM Achieve carbon neutrality in our 55 548 SA, UK, and US operations by 2025 (Scope 1 and 2 emissions) Tons CO2e per year (2019) Average (26.3m Tons) Audited by DSY B G J K O A C D E F
Slide 38: Shared-Value model applicable for green behaviour change
Shared-Valued model conceptually applicable for green behaviour change controllable behaviours Electricity Nutrition Driving Flying of personal household emissions 38
Slide 39: The businesses well positioned in the four strategic strands
4 The businesses well positioned in the four strategic strands
Slide 40: The businesses in the four strategic strands
The businesses in the four strategic strands PARTNER COMPOSITE SA COMPOSITE MODEL UK COMPOSITE MODEL MODEL Health Invest Life Perfect composite model, #1 in every industry, and laboratory for shared value in financial services. A successful entry into banking The best insurer in the UK, making use o
Slide 41: SA Composite Model
SA COMPOSITE MODEL Health Invest Life 41
Slide 42: Discovery Bank clients, accounts, deposits and advances
Clients Accounts Retail deposits Advances Post-BIN Post-BIN Post-BIN Post-BIN migration migration migration migration 300k J A S O N D J F MAM J J A S O N D J F S ON D J FMAM J J A S ON D J F J A S OND J FMAM J J A S OND J F J A S OND J FMAM J J A S OND J F 2019 2020 2021 2019 2020 2021 2019 2020 20
Slide 43: New clients and accounts continue to grow steadily
New clients and accounts continue to grow steadily with efforts focused on new-to-Bank clients following the migration New accounts and average daily new-to-Bank Full suite and differentiated proposition results in diversified sales income streams Accounts Average daily sales Product mix >556k >350
Slide 44: Deposits have grown strongly
Deposits have grown strongly, in line with the strategy to build a retail deposits-led bank Retail deposits Deposits are sticky and diverse International comparison Retail deposits tenure Discovery Bank deposit growth is best in class 44% after 14 months of operation 97% growth > 3 months post-migra
Slide 45: Advances flat reflecting decreased consumer spending
Advances remained flat reflecting the decrease in consumer spending and prudent lending approach Advances Credit quality Market share 800 of clients have their largest credit card balances with Discovery Bank 700 Post-BIN Discovery Bank balance rank migration 600 500 Exceptionally low 60% risk 400 L
Slide 46: Increasing client engagement and Shared-Value fundamentals
Increasing client engagement and Shared-Value fundamentals emerging as expected VM status agnostic to income levels, Increasing engagement correlations aligned to pricing basis Shared-Value fundamentals Percentage of consumers in arrears by Vitality Money status Blue Bronze Silver Gold Diamond Incre
Slide 47: Value drivers trending in the right direction
Value drivers are trending in the right direction and the Bank is well- positioned for growth Value drivers Strategic focus areas Expanding distribution Large and highly productive channels and leads sources tied adviser base Thought leadership and brand awareness Client growth Pre-scoring Vitality
Slide 48: Discovery Health: operating profit, lapses, membership, new business
Operating profit Lapses Membership New business* Rm Rm to R1 670m improvement lives under administration to R3 167m Non-scheme products 5.57% Closed schemes 5.19% DHMS 1993 1995 1997 1999 2001 2003 2005 2007 2009 2011 2013 2015 2017 2019 H1 H1 H1 H1 H1 Dec-19 Dec-20 H1 H1 H1 H1 H1 2017 2018 2019 202
Slide 49: Medical scheme growth impacted by contraction in employment
Medical scheme growth impacted by the contraction in employment DHMS growth Closed scheme growth Retail product growth DHMS new business API by business type LIBERTY : new employer groups MEDICAL Type II: new employees on existing groups SCHEME closed schemes lives lives year-on-year revenue growth
Slide 50: Membership growth, lapses and solvency
Membership and growth Lapses and stability Security and surplus Plan movements stability 2020 plan movements lives credit rating unaudited solvency Increased by Upgrade 2.2% 1.6% Downgrade market share1 as at Sep 2020 96.2% No movement Debit order rejections 7% 6% 5% 4% 3% Dec-20 Jun-20 Aug-20 Sep-2
Slide 51: Solvency build-up driven by decline in non-COVID-19 utilisation
Solvency build-up driven by the decline in non-COVID-19 healthcare utilisation Impact on utilisation Surplus build-up Weekday hospital admissions index Private Psychiatric emerging due to (rolling 3-day average) Day clinics hospitals hospitals COVID-19 38.7% 22.7% Claim cost change by service month
Slide 52: Discovery Life: exceptionally strong operating variances
Exceptionally strong operating New business Normalised operating profit variances to R1 162m to R1 922m Positive non-economic variances H1 2020 H1 2021 563 224 Other Total Mortality and morbidity Premium and fee income Lapses and surrenders Policy alterations Other Premium and fee income Total Morta
Slide 53: Positive operational experience variances
Positive operational experience variances, driven by exceptionally strong persistency Strong lapse experience and improvement in Resilient value of new business and increase in embedded value non COVID-19 claims experience Margin improved vs. June 20 Lapse experience AvE Claims experience AvE VNB (R
Slide 54: Robust cashflow, capital coverage and liquidity
Robust position evident in strong cashflow, capital coverage and liquidity Strong cash emergence over the Maintained strong capital position High levels of liquidity coverage period Life and Invest R millions Assets available to R4.1bn R4.1bn meet liquidity 182% 182% needs 7 605 cR560m of COVID-19 c
Slide 55: COVID-19 claims experience peaked in January 2021
COVID-19 claims experience peaked in January 2021, and has run down materially as at mid-February Significant provision utilisation during Total provisions in excess R1bn remain even Amplified relevance of shared-value the January peak, has abated during after allowing for Jan and Feb claims life in
Slide 56: Discovery Invest: operating profit, new business, assets
Normalised operating profit New business Assets under administration Rm Rm Rbn to R471m to R1 316m to R107bn H1 2017 H1 2018 H1 2019 H1 2020 H1 2021 H1 2017 H1 2018 H1 2019 H1 2020 H1 2021 2016 20 201720 201820 2019 20 2020 20 16 17 18 19 20 56
Slide 57: Efficacy of Shared-Value model works locally and abroad
Efficacy of Shared-Value model works locally and is moving abroad Shared-Value model produces Proposition has created the fastest Discovery Invest platform exemplary outcomes growing retail investment provider Actuarial dynamics AUM Growth since December 2007 Asset growth (rebased to 100 as at 31 De
Slide 58: Discovery Insure: operating profit and new business
Normalised Gross written operating profit New business premium Market share in GWP Operating margin to R107m to R617m* to R2 121m* to 6%* (excl. Commercial) H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 2017 2018 2019 202
Slide 59: Increased margin a result of the model's economics
Increased margin a direct result of the economics of the model Shared-Value model drives the economics Public buy-in Resultant margin 2020 Growth in GWP Margin (%) By Vitality status By duration inforce Despite a 16% 6 Loss ratios Lapse rates Loss ratios Lapse rates decline in home transfers and new
Slide 60: Data provides advantage in insights and application
Data provides fascinating advantage in insights and application Understanding behaviour Vitality drive status differentiates risk within traditional pricing factors provides superior accuracy over traditional pricing Frequency of claims by Vitality Drive Status Age Province Gender Automobile Competi
Slide 61: Model and data enable customer emphasis and are replicable
Model and data enables emphasis on the customer and is replicable Discovery Insure’s personal lines platform Platform enables capabilities and new manifestations Vitality Drive 2.0 insured assets kilometres tracked claims processed Discovery Insure Vitality Drive 65+ vehicle warranty claims paid cas
Slide 62: UK Composite Model
UK COMPOSITE MODEL Health Invest Life 62
Slide 63: Vitality Health and Life insurance
Health and Life insurance Normalised operating profit Lives covered Earned premiums New business to £44.2m to 1.3m lives to £409.4m* to £56.4m GBP millions GBP millions GBP millions H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 2017 201
Slide 64: The composite is working well and receiving recognition
The composite is working well and receiving recognition Vitality engagement: Simplified customer deep and correlated Brand well established Service recognition journeys Relative lapse experience Prompted brand awareness COVID-19 UKCXA’20 50 50 51 53 UK Customer Experience Awards 37 Bronze Silver Gol
Slide 65: Shared-Value Insurance Model consistent across the Group
Shared-Value Insurance Model is consistent across the Group LIFE ABC RENEWAL HEALTHY FEE STATUS-LINKED OPTIMISER PRICING SAVER EXCESS Reduce increase Reduce excess by up Up to 30% upfront Up to 0% asset through health to £250 and discount management fees engagement eliminate increase Healthier agein
Slide 66: VitalityHealth insurance
Health insurance Normalised operating profit Earned premiums Lives covered New business to £28.8m to £256.5m* to 693k lives* to £30.0m GBP millions GBP millions GBP millions H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 2017 2018 2019 2
Slide 67: The quality of the book is strong
The quality of the book is strong Exceptional retention Strong cash generation after allowing for UPR adjustment Lapse rates GBP millions, after allowing for COVID-19 provisions Inforce book cash generation Net cash generated 70 £59m 60 £51m 50 £46m £47m 40 £25m 30 £22m £20m £23m 30 20 20 10 10 0 0
Slide 68: UPR adjusted for treatments delayed due to COVID-19
UPR adjusted for treatments delayed due to COVID-19, and roughly equal to 2 months of claims Still below expectation due to second wave, but expect Authorisations still below pre-COVID-19 levels catch-up on delayed treatments Monthly authorisations per 1 000 lives Claims spend expected compared to a
Slide 69: VitalityLife insurance
Life insurance Normalised operating profit Earned premiums Lives covered New business to £15.4m to £152.9m to 648k lives to £26.4m GBP millions GBP millions GBP millions H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 2017 2018 2019 2020
Slide 70: COVID-19 impacted the overall market with reduced sales
COVID-19 impacted the overall market with a reduction in total sales VitalityLife new business UK IFA market new business -22% -23% to £26.4m GBP millions H1 2017 H1 2018 H1 2019 H1 2020 H1 2021 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 COVID-19 impact Source: Touchstone, Oct 2020 70
Slide 71: VitalityLife benefitting from the restructure
Vitality Life benefitting from the restructure Unfavourable variances remedied Steps taken to address retention Lapse AvE at all-time low from July 2020 AvE lapses IFRS reserve variance 120% 3 Millions Expected 2 100% 1 80% 0 60% -1 40% -2 20% -3 0% -4 Jul-19 Jul-20 Apr-20 Jun-20 May-20 Nov-19 Nov-2
Slide 72: Profits are reverting, as expected
Profits are reverting, as expected H1 2020 normalised operating profit recon H1 2021 operating profit recon +£9.4m -£8.9m Reduction due £7.6m £15m to experience £15.4m £15m Lapses variances £9m £5.8m H1 21 expected Experience Strengthening Interest and H1 2021 variances of provisions hedge impact op
Slide 73: Partner Composite Model
PARTNER COMPOSITE MODEL Health Invest Life 73
Slide 74: PAH's operating results
PAH’s operating results Discovery’s operating New business1 Written premium1 pre-tax result after tax to R7.2bn to R18.1bn to R1bn to R112m (DSY’s share is R253m) H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 20
Slide 75: Exceptional new business growth in the first half of PAH's financial year
Exceptional new business growth in the 1st half of PAH’s financial year Six-monthly new business Although new business slowed in the latter half, it RMB achieved its full-year revenue target Calendar year new business RMB 5 8 Billions Billions +26% 7 4 6 +35% 5 3 +105% 4 2 3 2 1 1 0 - Jan-Jun Jul-De
Slide 76: PAH continues to focus on growth and broadening sales channels
PAH continues to focus on growth and broadening its sales channels Continued expansion of offline Transformed distribution strategy to Building digital distribution distribution footprint capture different parts of market strategy for agents Hubei added Nov 2020 2A Deepen collaboration with Beijing
Slide 77: Ping An Group invests in its healthcare ecosystem
Ping An Group continues to invest in its extensive healthcare ecosystem Digital platform strategy with integration of various offline players Government Health Medical products Healthcare security Implemented in 158 cities PAH benefits from this commissions administration administration across 30 pr
Slide 78: PAH app being merged into Good Doctor app
PAH app being merged into Good Doctor app, which is to become the digital platform serving the Ping An Group healthcare ecosystem New app is called Ping An Good Doctor: China’s leading online healthcare services platform Ping An Health Vision: bring health to all Monthly active users in millions as
Slide 79: Partner Composite Model
PARTNER COMPOSITE MODEL Health Invest Life 79
Slide 80: Vitality Group: integrated new API, revenue, operating result
Integrated new API by Insurance and franchise insurance partners Revenue Operating result partners membership (+0.3% ZAR) (+21% ZAR) (+116% ZAR) USD537m USD38m USD14.6m 2.1m R8.7bn R625m R238m H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 H1 2017 2018 2019 2020 2021 2017 2018 2019 2020 20
Slide 81: In-market growth continued despite challenging environment
In-market growth continued, despite challenging environment Integrated new API by Vitality’s health and wellness message resonated with buyers and helped our partners insurance partners build resilient businesses during COVID-19 Non-integrated Vitality integrated (+0.3% ZAR) USD537m R8.7bn (pp diffe
Slide 82: Vitality engagement remained strong across our markets
Vitality engagement remained strong across our markets Resilient Vitality engagement Vitality enabled partners to respond and drive during COVID-19 engagement with clients during COVID-19 Markets experienced a moderate decline in Q1 with global Mobilised a powerful COVID-19 uncertainty and lockdowns
Slide 83: Vitality localised and tailored to market needs
Vitality localised and tailored to market needs Vitality spans multiple markets, regulators, languages, time zones, vendors, rewards partners, currencies and types of financial services AIA AIA AIA AIA AIA AIA AIA John Hancock Manulife Generali Singapore South Korea Hong Kong Philippines Indonesia A
Slide 84: Group results highlights
PARTNER SA COMPOSITE MODEL UK COMPOSITE MODEL COMPOSITE MODEL Health Invest Life Normalised operating Core new business API COVID-19 provisions Headline earnings Normalised headline profit earnings to R4 507m to R9 916m unchanged to R1 842m to R2 284m +8% including DH take-on of new closed schemes a
Slide 85: For the six months ended 31 December 2020
for the six months ended 31 December 2020 85 85