The impact of the implementation of the health insurance scheme

The implementation next February of the health insurance scheme covering Saudi workers in the private sector is likely to boost the insurance market. According to a market official, health insurance, whose current turnover is estimated at 2 billion USD, should exceed 4.7 million USD within the next five years. Saudi Arabian Monetary Agency has reported that health insurance increased by 9.8% last year, reaching an amount of 70 million USD.