BUPA ARABIA SIGNS A REINSURANCE AGREEMENT WITH BUPA INSURANCE LIMITED

01/01/2014 Tadawul

Bupa Arabia for Cooperative Insurance announces signing a reinsurance agreement on Tuesday 28/2/1435 H corresponding to 31/12/2013 with Bupa Insurance Limited (Related Party) to reinsure part of the written premium related to its customers outside the Kingdom and their dependents. Bupa Insurance limited is a subsidiary of the Bupa Group who is represented on the Board by Mr. Ignacio Peralta Gracia and Ms. Elizabeth Alison Platt and Mr. James Gordon Wheaton The ceded premium is estimated at SR 70 million which represents around 3% of the 2012 annual written premium. the agreement is expected to have an impact during H1 2014. Bupa Arabia will seek the shareholders approval during the coming general assembly meeting. 

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