Bupa Arabia renews health insurance contract with SABIC

Image used for illustrative purpose. A view of the headquarters of Saudi Basic Industries Corp (SABIC) in Riyadh January 20, 2009. Fahad Shadeed, Reuters Image used for illustrative purpose.
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Under the agreement, Bupa Arabia provides health insurance for SABIC’s employees and their families for one year starting on July 05, 2024

Staff Writer, Mubasher

June 13, 2024

PHOTO
Image used for illustrative purpose. A view of the headquarters of Saudi Basic Industries Corp (SABIC) in Riyadh January 20, 2009. Fahad Shadeed, Reuters Image used for illustrative purpose.

Riyadh – Bupa Arabia for Cooperative Insurance Company has renewed a contract with Saudi Basic Industries Corporation (SABIC).

Under the agreement, Bupa Arabia provides health insurance for SABIC’s employees and their families for one year starting on 05 July 2024, according to a bourse filing.

The contract revenues are expected to exceed 10% of Bupa Arabia’s gross written premium (GWP) in 2023, which recorded SAR 16.66 billion.

The net profits after Zakat attributable to the owners of Bupa Arabia for Cooperative Insurance amounted to SAR 359.42 million in the first quarter (Q1) of 2024.

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