Bupa Arabia (بوبا pronounced ) is a Saudi-owned and operated publicly traded company with 800 million
Saudi riyals in
paid-in capital
Paid-in capital (also paid-up capital and contributed capital) is capital that is contributed to a corporation by investors by purchase of stock from the corporation, the primary market, not by purchase of stock in the open market fro ...
. Bupa Arabia provides health insurance to the requirements of the Council of Cooperative Health Insurance and the
Saudi Arabian Monetary Authority
The Saudi Central Bank (), previously known as the Saudi Arabian Monetary Authority (SAMA; ), established in 1952, is the central bank of the Kingdom of Saudi Arabia. Despite the name change in 2020, the Saudi Central Bank has continued to use t ...
(SAMA).
Bupa Arabia is an associate business of the
Bupa Group, a worldwide healthcare organization.
Background
Under insurance regulations, Bupa Arabia evolved its business from a
joint venture
A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to acce ...
to a
publicly listed
A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (li ...
company offering cooperative health insurance.
In March 2008, Bupa Arabia went public and listed 40% of its shares for trading on
Tadawul
Saudi Exchange () or Tadāwul () is a stock exchange in Saudi Arabia. Tadāwul was formed in 2007 as a joint stock company and the sole entity authorized to act as a securities exchange in Saudi Arabia, but trading began in 1954 as an informal f ...
. 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.
Services
Bupa Corporate
Bupa Corporate is one of the main groups of products that Bupa Arabia has developed for larger businesses and corporations within the Saudi market. The product coverage is based on the basic Council of Cooperative Health Insurance (CCHI) product/policy guidelines and is customized to give a range of options. The available cover levels range from SR 500,000 to SR 37,500,000, and there is a choice of
hospital networks
A hospital network is a public, non-profit or for-profit company or organization that provides two or more hospitals and other broad healthcare facilities and services. A hospital network may include hospitals in one or more regions within one or ...
. Bupa Corporate includes four main schemes: Gold, Silver, Bronze, and Blue.
Bupa Business
Bupa Business is a group of products that Bupa Arabia has developed for small to medium businesses and corporations within the Saudi market. The product coverage is based on the basic Council of Cooperative Health Insurance (CCHI) product/policy guidelines, and customized to give a range of options. The available cover levels range from SR 500,000 to SR 600,000, and there is a choice of 7+ hospital networks. Bupa Business includes seven schemes: Diamond, Gold, Silver, Bronze, Blue, Green and White.
Bupa for Saudi Families
Bupa Family is designed for Saudi families who do not fall under Council of Cooperative Health Insurance (CCHI) enforcement within the Saudi market. The available cover levels range from SR 75,000 to SR 250,000. Bupa Family includes four main schemes: Gold, Silver, Bronze and Blue.
Bupa for Individuals
Bupa for individuals is designed purely for
expatriates working in Saudi Arabia that are not under the sponsorship of a company or establishment. Bupa Individual includes one scheme, Basic Green, which can be purchased through the website.
Bupa for Domestic Help
Bupa Domestic is designed for
domestic workers
A domestic worker is a person who works within a residence and performs a variety of household services for an individual, from providing cleaning and household maintenance, or cooking, laundry and ironing, or care for children and elderly de ...
. This product is designed around the Council of Cooperative Health Insurance (CCHI) guidelines and is available in two schemes: Bronze and White.
Bupa for Domestic Help
References
{{Reflist
External links
Bupa Arabia official websiteBupa International official websiteCouncil of Cooperative Health Insurance
Financial services companies established in 1997
Health insurance
Medical and health organisations based in Saudi Arabia
Companies in the MSCI Tadawul 30 Index