Bupa Arabia
Bupa Arabia (pronounced /buːpə/) is a Saudi-owned and operated publicly traded company with 800 million Saudi riyal in paid-in capital. Bupa Arabia provides health insurance in accordance with the requirements of the Council of Cooperative Health Insurance and the Saudi Arabian Monetary Authority (SAMA).
 | |
| Type | Public |
|---|---|
| ISIN | SA1210540914  |
| Industry | Healthcare |
| Founded | 1997 |
| Headquarters | Jeddah, Saudi Arabia |
| Products | Health insurance |
| Revenue | 9,503,400,000 Saudi riyal (2019) |
| Total assets | 10,181,096,000 Saudi riyal (2019) |
Number of employees | 1300 (2015) |
| Website | www.bupa.com.sa |
Bupa Arabia is associated with the Bupa Group, a worldwide healthcare organization.[1]
Background
Bupa Arabia originated in 1997 as a joint venture with the Nazer Group. Today, with more than 3 million customers, Bupa Arabia is the largest health insurers in the Kingdom of Saudi Arabia, with individual clients as well as some of the Kingdom's largest companies.
Under insurance regulations, Bupa Arabia evolved its business from a joint venture to a publicly listed company offering cooperative health insurance.
In 2008, Bupa Arabia offered 40% of its shares to the public in the most successful IPO ever floated for an insurance company in Saudi Arabia, and the remaining 60% were divided between BUPA Investments Overseas Co. and Nazer Group. In 2012, BUPA Investments Overseas Co. acquired Nazer Group's stake in Bupa Arabia. In 2014, BUPA Investments Overseas Co. acquired a significant stake in The Mediterranean and Gulf Cooperative Insurance and Reinsurance Company (Medgulf) Mediterranean & Gulf Insurance Co. which resulted in having 55% of the total shares.
Services
Bupa Corporate
Bupa Corporate is one of the main groups of products that Bupa Arabia has developed for larger businesses and corporations within the Saudi market. The product coverage is based on the basic Council of Cooperative Health Insurance (CCHI) product/policy guidelines, and customized to give a range of options. The available cover levels range from SR 500,000 to SR 37,500,000, and there is a choice of hospital networks. Bupa Corporate includes four main schemes: Gold, Silver, Bronze and Blue.[2]
Bupa Business
Bupa Business is a group of products that Bupa Arabia has developed for small to medium businesses and corporations within the Saudi market. The product coverage is based on the basic Council of Cooperative Health Insurance (CCHI) product/policy guidelines, and customized to give a range of options. The available cover levels range from SR 500,000 to SR 600,000, and there is a choice of 7+ hospital networks. Bupa Business includes seven schemes: Diamond, Gold, Silver, Bronze, Blue, Green and White.[3]
Bupa for Saudi Families
Bupa Family is designed for Saudi families who don't fall under Council of Cooperative Health Insurance (CCHI) enforcement within the Saudi market. The available cover levels range from SR 75,000 to SR 250,000. Bupa Family includes four main schemes: Gold, Silver, Bronze and Blue.[4]
Bupa for Individuals
Bupa for individuals is designed purely for expatriates working in Saudi Arabia that are not under the sponsorship of a company or establishment. Bupa Individual includes one scheme, Basic Green. which can be purchased through the website.[5]
Bupa for Domestic Help
Bupa Domestic is designed for domestic workers. This product is designed around the Council of Cooperative Health Insurance (CCHI) guidelines and is available in two schemes: Bronze and White.[6]
References
- BUPA Arabia for Cooperative Insurance - Zawya
- Bupa Corporate Archived 15 May 2013 at the Wayback Machine
- Bupa Business Archived 15 May 2013 at the Wayback Machine
- Bupa for Saudi Families Archived 15 May 2013 at the Wayback Machine
- Bupa for Individuals Archived 15 May 2013 at the Wayback Machine
- Bupa for Domestic Help Archived 15 May 2013 at the Wayback Machine