Bupa Arabia renews insurance deal with SABIC

Bupa Arabia renews insurance deal with SABIC

extended its health insurance contract with (SABIC) for one year, starting from Monday, 4 July. Upon the contract awarded on 3 July 2022, Bupa Arabia will provide SABIC’s employees and their families with health insurance services, according to a recent bourse filing. The Saudi insurer expects that revenues from the agreement will exceed 5% of the 2021 annual gross written premiums (GWP). Meanwhile, the contract is forecast to reflect positively on Bupa Arabia’s income statements for the period ending on 31 December 2022. It is worth noting that the two parties in July 2021. During the first quarter (Q1) of 2022, Bupa Arabia , a plunge of 21.35% from SAR 175.41 million in the year-ago period. Meanwhile, SABIC in Q1-22, an annual surge of 33.12% from SAR 4.86 billion.