The Clap
The net profits of “Bupa Arabia for Cooperative Insurance” (8210) rose by about 17% on an annual basis for the last year, reaching approximately SAR 940 million.
What
The annual profit increase for the leading company in Saudi health insurance was due to the growth of its operations. This includes an increase in the number of insured individuals and a decrease in net reinsurance expenses.
So What
The insurance revenues of “Bupa Arabia” increased to approximately SAR 15.89 billion in 2023, marking a 23.4% year-on-year rise.
Now What
Bupa Arabia revealed that its subsidiary, “Health Horizon Medical” received a license to practice telemedicine and telehealth activities from the Ministry of Health. The company stated that it obtained the final license for a “Supportive Health Services” center on January 28, 2024, valid for five years.
