Health insurance industry earns SR800m profit

JEDDAH: The health insurance sector made a profit of SR801 million following the regulatory changes of 2015 that required insurance companies to allocate reserves and to apply the actuarial standards.
Besides, the total underwritten health insurance premiums increased to SR18.9 billion at the end of last year with a growth rate of 21 percent in comparison to 2014.
Mohammed Bin Salman Al Hussein, secretary general of the Health Insurance Council, told reporters that the sector is an important economic earner in the field of financing of health services for workers in the private sector and their families, amounting to more than 10.7 million insured individuals by the end of 2015, of which more than 7.5 million were non-Saudis, against 1.3 million Saudis, a local publication reported.
He noted that health care services are provided to them and their families through a network of integrated medical services which includes 2,569 medical service providers accredited by the Council certified through 26 health insurance companies and seven health insurance claims departments.