South African pharmacy group Dis-Chem Pharmacies has said that it will launch its insurance business, Dis-Chem Life, in the first quarter of 2025, reported Reuters.
The company, which seeks to expand beyond being a pharmacy retailer acquired a 50% stake worth ZAR155.9m ($8.84m) in the financial services provider and life insurer OneSpark in August this year.
OneSpark is a private company which offers life insurance and funeral cover whose expertise will significantly support Dis-Chem's "vision of increasing access to quality healthcare at the lowest cost," the company said in a statement.
"Our new life insurance partner, will use their proprietary technology and experience to bring novel insurance offerings to markets under the Dis-Chem life brand," the group's CEO Rui Morais said.