Magazine date:
Jan 2016 Gathered in the General Assembly of December 2015, the shareholders of Bupa Arabia Cooperative Insurance approved the doubling of the company’s capital which will rise from 400 million SAR (106.6 million USD) to 800 million SAR (213.2 million USD).
This increase will trigger the issuance of 40 million shares, that is, one free share for each existent share. This operation will be financed through the integration of 400 million SAR (106.6 million USD) from non-distributed profits.
Bupa Arabia, specialized in health insurance, is a joint-venture made up of Bupa UK and the Nazer family. During the first half of 2015, the insurer posted 149.9 million SAR (40 million USD) in profits, compared to 17 million SAR (4.5 million USD) a year earlier.