Jeddah: Tal Nazer, CEO of Bupa Arabia, announced that the company has recently joined the MSCI Tadawul 30 (MT30) Index, a joint tradeable index launched by the Saudi Stock Exchange (Tadawul) and MSCI to serve as the basis for Exchange-Traded Funds (ETFs). The index is designed to reflect the performance of approximately the 30 largest and most traded stocks listed on the Saudi Stock Exchange (Tadawul).
“Bupa Arabia is proud to be part of this historic moment which witnessed the Saudi Stock Exchange joining arms with MSCI Emerging Market Index”, stated Tal Nazer- Bupa Arabia’s CEO. He attributed this economic achievement to the increasing competitiveness of the Saudi stock market and the Kingdom’s ambitious Vision 2030 which established a new phase in the Saudi economic system.
He further added “Our new position in the MT30 Index presents a great opportunity for us to showcase our global potential and strengthen our leadership in the medical insurance industry. Moreover, we are proud to serve millions of members and we will keep building on our promise to continuously innovate and apply the best medical insurance practices in accordance with international standards to drive this vital sector forward in Saudi Arabia”.
The company’s inclusion in the MSCI Tadawul 30 (MT30) Index will further enhance the Saudi Capital Market’s classification among global Emerging Markets in line with Financial Sector Development Program (FSDP), part of Vision 2030, which aims to develop the national economy, diversify its sources of income, and encourage savings and investment through developing financial institutions and the Saudi Stock Exchange. This will contribute to developing a more advanced capital market while, maintaining the stability and solidity of the financial sector.
“Being included in the MT30 Index will enhance our corporate image and visibility to international investors”, Nazer commented, “It will also reflect the company’s strength, and broadens shareholder base by reflecting our ability to compete with other Global/EM companies within the same sector”.
Due to its growing successes, Bupa Arabia continues to uphold its leading status in the medical insurance field in the Saudi market through its rich history of achievements. Since its establishing, in 1997, Bupa Arabia has provided and continues to provide the best health insurance services to a growing base of clients across various business sectors.
Above all, Bupa Arabia is committed to being the best healthcare partner for its clients, with its potential and global expertise which enables the company to deliver the highest levels of innovation and quality of service provided to both, its employees and clients.
It is worth noting that MSCI Inc. is a global provider of equity, fixed income, hedge fund stock market indexes, and multi-asset portfolio analysis tools. For more than 40 years, MSCI’s research-based indexes and analytics have helped the world’s leading investors build and manage better portfolios. More than 14 Trillion USD in equity assets are estimated to be benchmarked to MSCI Indices, and more than 90 of the top 100 global investment managers are clients of MSCI.
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