The International Private Medical Insurance (IPMI) inflation data for the Middle East this year has seen a modest jump above the global average. Inflation increased from 9.2% in 2016 to 9.6% in 2017, above the global figure of 7.0%. This is significant as the IPMI rates in the Middle East, derived from our Dubai data, generally tracked fairly closely to the global average historically.
Last year, the final implementation of mandatory health insurance reforms in Dubai was a monumental factor in the rates shown to the Middle East. This year, we’re beginning to see the impact these regulatory changes have had on the IPMI market. For this reason, we maintain our belief in the Middle East, and namely Dubai, being an important market to follow as insurers and consumers come to terms with these laws.
While the Middle East IPMI inflation data is based on Dubai, the 2016 figure was estimated to be similar to that of the global rate. The reason for the estimation, as explained last year, is due to the number of changes the Dubai market experienced. The Dubai graph, as shown in its own section, will have the 2016 data missing.