KSA - Bupa Arabia to provide health ins. to NCB
Thursday, 12 10 2020, Category: Insurance and Reinsurance, Country: Saudi Arabia
Bupa Arabia for Cooperative Insurance received on Sunday a confirmation from the National Commercial Bank (NCB) to provide health insurance services to the bank’s employees and their families for one year effective from 1 January 2021.
The initial value of the contract exceeds 1% of the 2019 annual gross written premiums (GWP) of Bupa Arabia, according to a stock exchange statement.
Moreover, Bupa Arabia noted that Zaid Abdulrahman Abdullah Algwaiz, who serves as a board and audit committee member at Bupa Arabia and board member at NCB, is a related party to the contract.
It further added that the contract is likely to reflect positively on its financial results for 2021.