Bupa Arabia gets SAMA nod on insurance product for premium residency holders

Logo of Bupa Arabia for Cooperative Insurance Co.

Bupa Arabia for Cooperative Insurance Co. received the final approval from the Saudi Central Bank (SAMA) to sell its new insurance product “Bupa Premium Residency” in Saudi Arabia.

The new product provides premium health insurance coverage to the holders of premium residency and their dependents, the insurer said in a statement to Tadawul.

The product will also provide access to Bupa Arabia’s network of health insurance providers and table of benefits along with Bupa Arabia value added services (Tebtom and Rahatkom) to accommodate for premium residents' health requirements and needs.

It aims to grow Bupa Arabia’s individual business portfolio and enhances the premium residents experience in light of Vision 2030, the statement said.

Bupa Premium Residency is expected to have a positive impact on the company’s financial results in 2023, it added.