BUPA ARABIA FOR COOPERATIVE INSURANCE ANNOUNCES IT HAS BEEN AWARDED AS THE HEALTH INSURANCE PROVIDER FOR THE NATIONAL COMMERCIAL BANK (RELATED PARTY)
|Introduction||Bupa Arabia for Cooperative Insurance Company announces it has received, on Wednesday 27 November 2019, 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 2020. 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 2020 financial results as the initial value of the contract exceeds 1% of the 2018 Annual Gross Written Premium (GWP) of Bupa Arabia. The contract will be presented to the next General Assembly meeting for approval.|
|Date of the Award||2019-11-27 Corresponding to 1441-03-30|
|Contract Value||The initial value of the contract exceeds 1% of the 2018 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 2020.|
|Related Parties||Mr. Zaid Abdulrahman Algwaiz|
|Additional Information||The contract is expected to have a positive impact on the Bupa Arabia 2020 financial results.|
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