Bupa Arabia for Cooperative Insurance has inked an agreement with Saudi Telecom Co. (STC) to provide health insurance services for the company’s staff and their dependents for one year, the insurer said in a bourse filing.
The contract will start as of Oct. 5, 2019.
The contract’s gross value is expected to exceed Bupa Arabia’s gross written premiums for FY18.
The relevant financial impact is expected to reflect on Bupa’s earnings for FY19.
No related parties are involved in the deal, the statement added.
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