BUPA ARABIA FOR COOPERATIVE INSURANCE ANNOUNCES IT HAS BEEN AWARDED AS THE HEALTH INSURANCE PROVIDER FOR THE NATIONAL COMMERCIAL BANK (RELATED PARTY)
|Introduction||Bupa Arabia for Cooperative Insurance Company announces it has received, on 06 December 2020, the confirmation of 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. Bupa Arabia would like to draw the attention of the public to the fact that there is a related party to this contract; Mr. Zaid Abdulrahman Abdullah Algwaiz as he is a Board & Audit Committee Member at Bupa Arabia and Board Member at NCB. The contract is expected to have a positive impact to Bupa Arabia's 2021 financial results as the initial value of the contract exceeds 1% of the 2019 Annual Gross Written Premium (GWP) of Bupa Arabia. The contract will be presented to the next General Assembly meeting for approval.|
|Date of the Award||2020-12-06 Corresponding to 1442-04-21|
|Contract Value||The initial value of the contract exceeds 1% of the 2019 Annual Gross Written Premium (GWP) of Bupa Arabia.|
|Contract Details||To provide health insurance services to the National Commercial Bank employees and their families, for one year effective from 1 January 2021.|
|Related Parties||Mr. Zaid Abdulrahman Abdullah Algwaiz.|
|Additional Information||The contract is expected to have a positive impact on Bupa Arabia's 2021 financial results.|
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