Bupa Arabia renews contract with SABIC for 1 year

18/06/2023 Argaam

Bupa Arabia renews contract with SABIC for 1 year

Logo of Bupa Arabia for Cooperative Insurance Co.

Bupa Arabia for Cooperative Insurance Co. on June 15 renewed a contract with Saudi Basic Industries Corp. (SABIC) to provide health insurance services to the company’s staff and their families for one year as of July 4, 2023, according to a statement to Tadawul.

 

The contract revenue is forecast to exceed 10% of Bupa Arabia’s annual gross written premiums (GWPs) for 2022.

 

The relevant financial impact will likely appear on the insurer’s 2023 and 2024 financial results.

 

The contract included no related parties, the statement added.

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