Riyadh – Mubasher: Bupa Arabia for Cooperative Insurance Company has renewed a contract with Saudi Basic Industries Corporation (SABIC).

Under the agreement, Bupa Arabia provides health insurance for SABIC’s employees and their families for one year starting on 05 July 2024, according to a bourse filing.

The contract revenues are expected to exceed 10% of Bupa Arabia’s gross written premium (GWP) in 2023, which recorded SAR 16.66 billion.

The net profits after Zakat attributable to the owners of Bupa Arabia for Cooperative Insurance amounted to SAR 359.42 million in the first quarter (Q1) of 2024.