KSA health plans hit all-time high

Saudi Arabia's health insurance sector has notched up a 62% growth over the last two years, an industry expert has claimed.

The medical sector, which accounts for 32% of the Kingdom's insurance market, is now worth 2.7 billion Saudi riyals, said Raid Al Tamimi, deputy CEO of Cooperative Health Insurance Company.

The increase is attributable to the introduction of mandatory health insurance for expatriates. The ruling has seen the healthcare arm of the insurance sector outpace all other areas of the market in terms of growth.

Basem Auda, director general of the Arabian Shield Cooperative Insurance Company, said that the volume of Saudi's overall insurance market, which reached seven billion riyals during the year 2007, is expected to cross the eight billion riyals mark this year.

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