Search Site

Trends banner

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

Saudi insurance sector targets 25m beneficiaries by 2030

An aerial view of Riyadh city. AFP
  • The expansion in the sector is largely propelled by the introduction of the mandatory health insurance for private sector workers and their dependents
  • Saudi Arabia saw an 18% surge in health insurance beneficiaries in 2022, reaching a total of 11.5 million individuals by year-end


Riyadh, Saudi Arabia – Saudi Arabia saw an 18% surge in health insurance beneficiaries in 2022, reaching a total of 11.5 million individuals by year-end, a report by the Saudi Council of Health Insurance revealed. The target is to reach 25 million beneficiaries by 2030, aiming for health insurance to contribute approximately 2% of the GDP, estimated at SR61 billion ($16.27 billion) by the same year.

The expansion in the sector is largely propelled by the introduction of the mandatory health insurance for private sector workers and their dependents.

The council initiated the rollout of Nphies, a unified electronic platform aimed at revolutionizing health insurance services. This national platform streamlines insurance exchanges, governs claims processing, facilitates financial transactions, and ensures secure information sharing among insurance operations.

Its objectives include establishing a consolidated health profile for insured individuals, streamlining approval processes, and cutting down both costs and time involved by electronically connecting financial transactions between healthcare providers and insurance companies.