Bupa Arabia Clinches Major Health Insurance Contract with Saudi National Bank

-2.82%

BUPA ARABIA

8210.SA

141.30

-2.82%

According to the Tadawul announcement dated 28 December 2023, Bupa Arabia for Cooperative Insurance Co.(8210.SA) has been selected as the health insurance provider for the Saudi National Bank (SNB). This significant contract, effective from 1 January 2024, will cover the bank’s employees and their families. The contract, awarded on 26 December 2023, is valued at 337,333,513 SAR and is expected to positively influence Bupa Arabia's financial results for 2024. The initial value of this contract surpasses 1% of Bupa Arabia's 2022 Annual Gross Written Premium (GWP), indicating a substantial boost to the company's revenue. Additionally, Ms. Huda Mohammed Nasser Bin Ghoson, serving as an Independent Board Member at both Bupa Arabia and SNB, is mentioned in relation to this agreement.

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