Logo of Bupa Arabia for Cooperative Insurance Co.
Bupa Arabia for Cooperative Insurance Co. announced receiving, today, July 3, a confirmation from Saudi Basic Industries Corp. (SABIC) on the one-year renewal of its health insurance contract, starting July 4, according to a bourse statement.
The insurer expects the total contract revenue to exceed 5% of 2021 gross written premiums.
The decision is expected to have a positive impact on Bupa Arabia's 2022 results.
The deal does not have any related parties, the statement added.
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