Riyadh – Mubasher: Bupa Arabia for Cooperative Insurance is renewing its contract with Saudi Basic Industries Corporation to be the health insurance provider for the latter’s employees and their families.

The contract has been extended for one year starting 4 July 2021, according to a bourse filing on Sunday.

Revenues from the deal are expected to exceed 5% of the 2020 annual gross written premium of Bupa Arabia, reflecting positively on its 2021 financial results.

Bupa Arabia and SABIC renewed the insurance agreement last year.