The opportunity to expand into the international market has been presented to
Discovery Holdings Limited, one of South Africa's largest insurance
companies. So said the company's Chief Executive Officer, Adrian Gore, this week
to the local media.
Discovery expanding into Africa?
Groups from Africa and Europe have approached Discovery with international expansion opportunities
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Gore was speaking about the opportunities open to Discovery Holdings that
existed in a number of regions of the world, including Africa and Europe. He
said that the company had been approached by groups from both areas hoping to
partner with Discovery Holdings and promote its brands in other countries.
Gore said that while Discovery was open to expansion ideas, there were
definitely no concrete plans in the pipeline at present, and there were
certainly no immediate acquisition plans being made. Traditionally, Discovery
Holdings has favoured a more organic strategy with regards to growth.
Nevertheless, Gore did not dismiss any future plans and said: "There really
are substantial expansion opportunities, we're weighing them up."
Gore said that Discovery had been contacted by more than one company, and
while the insurance firm was hearing them all out and weighing the options,
there was no chance of short term deals being made at this point. "We've been
approached by four or five different markets in Africa that talked to us about
potential," was all he would say.
Discovery is not limiting its expansion plans to Africa only, it was
revealed. Asia and Middle East, two booming markets in terms of health care,
were definitely on the company's radar screen.
"Asia is exciting. The Middle East is exciting," said Gore. "The Asia and the
Middle East with healthcare are going through dramatic changes. It's a long term
plan, but there are a lot of opportunities in these markets."
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