Q1 2022 saw SAR 30 bln in insurance benefits expenses, 12 mln subscribers: GOSI

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The General Organization for Social Insurance (GOSI) stated that total expenses for insurance benefits amounted to SAR 30 billion by the end of Q1 2022.

According to a GOSI statement, Q1 2022 witnessed the registration of more than 200,000 Saudi subscribers, and more than 300,000 non-Saudi subscribers, bringing the cumulative total of subscribers by the end of period to more than 12 million on the social insurance system, as well as the civil service and military retirement systems.

Saudi subscribers exceeded 6 million during the three-month period.

GOSI indicated that the compensation of the unemployment insurance scheme (SANED) for Q1 2022 amounted to SAR 450 million, while the total pensions disbursed to the occupational hazards segment valued at SAR 36 million.

There were 8,000 work injuries recorded in Q1 2022.

GOSI pointed out that more than 140,000 new establishments were registered with the Kingdom’s social insurance system during the same period, 99% of which were enrolled proactively without requiring customer registration request.