Middle East and Africa
The Middle East and Africa are among the most important markets for Munich Health. The Persian Gulf states are prime examples, with annual healthcare expenditure currently at only 3.5% of gross domestic product. However, the increasing pace of change in demography and society means that this situation will evolve rapidly. The figures speak for themselves: though the average age remains well under 30, the over-sixties are the fastest-growing population group. As a result, healthcare expenditure in the Gulf states is expected to rise by around 250% per annum in the next 20 years. Munich Health is developing appropriate solutions for its local partners and will systematically realise opportunities for sustainable growth in the region – to the benefit of insureds, business partners and other shareholders.
Our reinsurance activities
Munich Health has already established a presence in many markets through its MedNet organisation, and has proven itself as a strong and effective partner in the region. There are local MedNet offices in Saudi Arabia, the United Arab Emirates, Bahrain and Jordan. Together with the Munich Health Regional Market reinsurance department, they provide local insurance clients with managed care services adapted to the markets and their needs also in combination with innovative reinsurance solutions.
www.mednetgulf.com (MedNet Saudi Arabia)
www.mednet-uae.com (MedNet United Arab Emirates)
www.mednet-bahrain.com (MedNet Bahrain)
www.mednetjordan.com (MedNet Jordan)
Our primary insurance activities
Our cooperation with Daman National Health Insurance, Inc in Abu Dhabi is a model for more intensive involvement in the region. Munich Health is now responsible for managing this insurance company, founded in 2005. Based on this highly successful business model, Daman and Munich Health (Munich Re) now insure around two million people and employ over 1,500 staff members. Plans are in place to open a representative office in Abu Dhabi in the near future, in order to further enhance our service in the region and get even closer to the market. This places us in a strong position to meet future challenges and systematically realise opportunities.
www.damanhealth.ae