Bupa Arabia has been granted a licence by the Saudi Arabian Monetary Agency to offer medical insurance products in the Kingdom. Bupa Arabia is now authorised to operate as a publicly listed Saudi company specialised in Medical Insurance.
Bupa Arabia has been operating in the region since around 1997, under the old name of Bupa Middle East. Bupa currently has close to 400,000 customers in Saudi Arabia alone and has been operating as a joint venture between the Bupa Group, one of the largest international health care companies and the Nazer Group, a Saudi conglomerate.
Ensuring that only companies specifically licensed by them to operate as health insurers in Saudi Arabia, is part of the government’s full implementation of the health insurance regulation, which calls for compulsory health insurance for all expatriate workers.
Saudi Arabia made health insurance compulsory for expatriate workers in the Kingdom in 2006 and the regulation is being introduced in phases.