Saudi Arabia-based leading medical healthcare insurance company, Bupa Arabia has signed a one-year agreement with Saudi National Bank (SNB), the leader in the banking industry, in order to provide health insurance services to the bank’s employees and their families.
“The Saudi health insurer expects the new partnership with SNB to have a positive impact on the company’s financial results for 2023 as the contract’s initial value is expected to exceed 1 percent of Bupa Arabia’s annual gross written premium of 2021,” the company said.
Bupa Arabia said in a statement that it has received approval from the Saudi National Bank for the contract.
Mr. Atef Mufti, Chief Sales Officer at Bupa Arabia, stated that “the health insurance contract between Saudi National Bank and Bupa Arabia confirms the latter’s leadership position in the Saudi insurance market and its immense experience in the field of providing care and health insurance services in the Kingdom.”
Mr. Mufti remarked that the contract consolidates the confidence of the Saudi business community in Bupa Arabia.
“We are keen to provide personal care that meets the aspirations of the bank’s employees and their families,” commented Bupa Arabia’s Chief Sales Officer, appreciating the important role SNB plays in the banking sector.
Bupa Arabia
Bupa Arabia was founded in 1997 as a joint venture between the Nazer group and Bupa. It became a publically listed company in 2008 with the most successful IPO in the industry.
The company delivers health cooperative insurance with international standards for individuals, families, and the largest companies and establishments in the Kingdom. It also has a large network of care providers adding up to 1.2 million entities across 190 countries.
