Riyadh - Mubasher: Bupa Arabia for Cooperative Insurance Company has been awarded a one-year contract with Saudi Arabian Airlines Corporation (Saudia) to provide health insurance services for its employees and their families, as well as retirees.
Effective from 6 March 2024, the contract is expected to have a positive impact on Bupa Arabia's 2024 financial results, according to a bourse filling.
The initial value of the contract, which was awarded on 10 January this year, exceeds 5% of the 2022 annual gross written premium (GWP) of Bupa Arabia.
In the first nine months (9M) of 2023, Bupa Arabia's net profits grew by 24.80% to SAR 990.53 million from SAR 793.70 million.
