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MENA healthcare sector seen as fastest growing over the coming year

According to a study by Qatar Financial Centre (QFC), medical and health insurance is expected to be the fastest growing lines of business in the Middle East and North Africa (Mena) region over the next 12 months, although it is considered the least profitable, Gulf Times has reported. This is mainly due to the compulsory insurance requirements with Saudi Arabia being a particularly illustrative case as medical and health risk covers account for more than 50% of that country's total non-life premiums, QFC said. Medical business is considered the least profitable lines of business, given fierce competition and accelerating claims inflation, it said.