BUPA ARABIA FOR COOPERATIVE INSURANCE ANNOUNCES RECEIVING THE APPROVAL FOR ITS SURPLUS DISTRIBUTION TO POLICYHOLDERS FOR THE FISCAL YEAR 2017
Bupa Arabia for Cooperative Insurance Company announces that it has received, on 16/07/2018G, SAMA's no objection for the distribution of the cooperative distribution surplus to entitled policyholders, for the year ending 31/12/2017G, in accordance with Article 70 (2e) of the Implementing Regulations of the Law on Supervision of Cooperative Insurance Companies, and the SAMA Surplus Distribution Policy regulations.
Bupa Arabia is in progress with its individual policyholder by contract communications and if a policyholder contract has fulfilled the loss ratio requirements a share in the 2017 Cooperative Distribution of Bupa Arabia, provided the premiums due to Bupa Arabia in relation to the policyholder contract have been fully settled up to date, will be distributed via either, or a combination of: a) client debtor account credit, b) client renewal rebate, or c) client refund, if required and applicable.
In accordance with the SAMA Surplus Distribution Policy regulations all the 2017 Cooperative Distribution amounts will be deducted from the 2017 Cooperative Distribution surplus.
Policyholders, if entitled for the 2017 fiscal year, and/or prior years, are requested to contact Bupa Arabia to claim their Cooperative Distribution surplus amounts, if applicable, via e-mail, specifying your Bupa Arabia health insurance contract number and Company name within the e-mail, to the following:
and Bupa Arabia representative will contact you.