Saudi Arabia - Close to 11 mln covered by health insurance
Source: Middle East Insurance Review | Nov 2016
The number of participants in health insurance plans in Saudi Arabia rose to about 10.8 million at the end of 2015, an increase of 12% compared to 2014, according to the 2015 report of the Council of Cooperative Health Insurance (CCHI).
The number of Saudis who were covered by health insurance at the end of last year totalled 3.19 million, while the number of foreigners stood at 7.59 million.
Gross health insurance premiums amounted to SAR18.9 billion (US$5 billion) last year, representing an increase of 25% over 2014. Net incurred claims grew by 23% to SAR12.8 billion. Health insurance was the largest segment of the insurance market, with a contribution of more than 50% in terms of GWP.
The three biggest health insurers commanded a 79.3% share of the market. They were Bupa Arabia (38.6% share); Tawuniya (25.9%) and Medgulf (14.8%).
The number of health insurance companies in Saudi Arabia licensed by CCHI stood at 26 last year, with 17 of them based in Riyadh.
The report indicated that in 2015, the number of accredited health service providers in the Kingdom was 2,569, an increase of 4% compared to 2014.
Health insurance is compulsory in Saudi Arabia for non-Saudi residents. Citizens and residents in the private sector are also covered by compulsory insurance. Citizens working in the government receive free coverage in governmental healthcare centres and public hospitals.
SAR1 = US$0.27