A study recently publicized by the Saudi Cooperative Insurance Company and appearing in KSA Today newspaper, has revealed that the total value of the health insurance installments in the kingdom had increased to SR 807.4 million ($215.3 million) in 1999, up from SR 665.1 million in 1998. These figures represent a 21 percent growth rate.
In addition, sources at the Saudi health insurance market predict that the value of the local health insurance market will rise as high as SR 6 billion ($1.6 billion), following the application of a compulsory cooperative insurance system on expatriates. Approximately six million Saudi expatriates ate expected to join this program in the future. –(Albawaba-MEBG)
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