Bupa Arabia Awarded Health Insurance Health Insurance Contract with SNB
- Written by: iPMI Global
Bupa Arabia for Cooperative Insurance has signed a one-year agreement with Saudi National Bank (SNB) the leader in the banking industry, under which it will provide health insurance services to the bank’s employees and their families.
Bupa Arabia said it received SNB’s approval for the contract on Dec. 18. The leading 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% of Bupa Arabia’s annual gross written premium of 2021.
Atef Mufti, Chief Sales Officer at Bupa Arabia, said, “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.”
Mufti said 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,” he said, expressing appreciation for the important role played by SNB in the banking sector.
Bupa Arabia was founded in 1997 as a joint venture between Nazer group and Bupa. It became publically listed company in 2008 with the most successful IPO in industry. Bupa Arabia is considered part of the Bupa Global network. 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. Bupa Arabia is considered more than just a traditional health insurance company as it provides the most innovative healthcare services through its Tebtom program and insures an exceptional hospital experience through its Rahatkom program.
Bupa Arabia is characterized by a work environment that stimulates innovation and productivity– a reputation further enhanced by several awards and industry recognitions. It is also considered one of the leading companies in women enablement and attracting Saudi Arabian youth, achieving over 70% Saudization rate.
