Bupa Arabia for Cooperative Insurance Company announces it has received, on Sunday 09 December 2018, 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 2019. 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 Algwaiz in that he is a Board Member at Bupa Arabia and at NCB. The contract is expected to have a positive impact to Bupa Arabia's 2019 financial results as the initial value of the contract exceeds 1% of the 2017 Annual Gross Written Premium (GWP) of Bupa Arabia. The contract will be presented to the next General Assembly meeting for approval.
Date of Contract Award
2018-12-09 Corresponding to 1440-04-02
Contract Value
the initial value of the contract exceeds 1% of the 2017 Annual Gross Written Premium (GWP) of Bupa Arabia
Contract Details
To provide health insurance services to the National Commercial Bank's employees and their families, for one year effective from 1 January 2019.
Related Parties
Mr. Zaid Abdulrahman Algwaiz
Additional Information
The contract is expected to have a positive impact to Bupa Arabia's 2019 financial results
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