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BUPA ARABIA FOR COOPERATIVE INSURANCE COMPANY ANNOUNCES AWARDING HEALTH INSURANCE CONTRACT WITH THE SAUDI NATIONAL BANK (SNB)
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BUPA ARABIA
-0.91
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1444/05/24 18/12/2022 09:51:48
| Element List | Explanation |
|---|---|
| Introduction | Bupa Arabia for Cooperative Insurance Company announces it has received, on 18 December 2022, the confirmation of the Saudi National Bank (SNB) to provide health insurance services to the bank’s employees and their families, for one year effective from 1 January 2023. Bupa Arabia would like to draw the attention of the public to the fact that there is a related party to this contract; Ms. Huda Mohammed Nasser Bin Ghoson as she is an Independent Board Member at Bupa Arabia and an Independent Board Member at SNB. The contract is expected to have a positive impact to Bupa Arabia's 2023 financial results as the initial value of the contract exceeds 1% of the 2021 Annual Gross Written Premium (GWP) of Bupa Arabia. |
| Date of the Award | 2022-12-18 Corresponding to 1444-05-24 |
| Contract Value | The initial value of the contract exceeds 1% of the 2021 Annual Gross Written Premium (GWP) of Bupa Arabia. |
| Contract Details | To provide health insurance services to the Saudi National Bank employees and their families, for one year effective from 1 January 2023. |
| Related Parties | Ms. Huda Mohammed Nasser Bin Ghoson. |
| Additional Information | The contract is expected to have a positive impact on the 2023 financial results of Bupa Arabia for Cooperative Insurance Company. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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