Director in CBB: Compulsory Health Insurance Premiums to Constitute 35% of Insurance Premiums
2017-10-15 - 7:53 p
Bahrain Mirror: Executive Director of Financial Institutions Supervision in Central Bank of Bahrain Abdul Rahman Al-Baker expected that the share of the total health insurance premiums will increase to at least 35% in case the compulsory health insurance is implemented.
He explained that the health insurance constitutes now 15% of the total premiums in the kingdom, which makes "the compulsory health insurance" a big chance to increase growth and advance the sector.
Al-Baker anticipated that the growth rate of insurance will reach 9-10% during the current year. Thus, it will be at the natural growth levels, as it is known that this sector grows annually by this ratio.
Al-Baker pointed out to some Gulf and Arab experiments in the matter of compulsory health insurance, indicating that this ratio reached about 55% of the premiums in countries like Saudi Arabia.
The government has prepared new law about "health insurance" binding all citizens, residents and visitors to pay monthly subscriptions in return for receiving primary health services in public and private centers and hospitals.
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