Bupa Arabia
From Wikipedia, the free encyclopedia
 | |
| Company type | Public |
|---|---|
| ISIN | SA1210540914  |
| Industry | Healthcare |
| Founded | 1997 |
| Headquarters | Jeddah, Saudi Arabia |
| Products | Health insurance |
| Revenue | 9,503,400,000 Saudi riyal (2019) |
| Total assets | 10,181,096,000 Saudi riyal (2019) |
Number of employees | 1300 (2015) |
| Website | www.bupa.com.sa |
Bupa Arabia (بوبا pronounced /buːpə/) is a Saudi-owned and operated publicly traded company with 800 million Saudi riyals in paid-in capital. Bupa Arabia provides health insurance to the requirements of the Council of Cooperative Health Insurance and the Saudi Arabian Monetary Authority (SAMA).
Bupa Arabia is an associate business of the Bupa Group, a worldwide healthcare organization.[1]
Under insurance regulations, Bupa Arabia evolved its business from a joint venture to a publicly listed company offering cooperative health insurance.
In March 2008, Bupa Arabia went public and listed 40% of its shares for trading on Tadawul.[2] According to Arab News, the IPO was over-subscribed by 921%. The remaining 60% of the shares were divided between BUPA Investments Overseas Co. and Nazer Group.
In 2012, BUPA Investments Overseas Co. acquired Nazer Group's stake in Bupa Arabia.
In 2014, BUPA Investments Overseas Co. acquired a significant stake in The Mediterranean and Gulf Cooperative Insurance and Reinsurance Company (Medgulf) Mediterranean & Gulf Insurance Co. resulting in 55% of the total shares.