Bupa Website

Company	Analyst	Recommendation
EFG-Hermes	Rajae Aadel	Buy
HSBC	Ankur P Agarwal	Buy
Al Rajhi Capital	Yazeed Alsaqaaby	Neutral
Securities & Investment Company	Nitin Garg	Nitin Garg
CI Capital	Monsef Morsy	Overweight
Arqaam Capital Limited	Jaap Meijer	Hold
William O'Neil & Co Incorporated	Kenley Scott	Buy
Shuaa Capital	Shadi Salman	Hold

Tal Nazer

Chief Executive Officer (CEO) and Board Member (Executive)

Mr. Tal Hisham Nazer has been a Board Member and the Chief Executive Officer of Bupa Arabia since 2008. Leading this top and fast-growing specialized health care company to higher standards, his relationship circle has widened and strengthened in the insurance market in Saudi Arabia with regulators, healthcare providers and the insured.
Mr Tal Nazer is a Board and Committee member for various companies. He is the Chairman of Najm for Insurance Services Company and Vice Chairman of the Nazer Group, he joined the CEC of Bupa Group in an advisory capacity, and a member of SAMA’s Insurance Executive Committee. He is also a Board member of the Financial Academy and a member of Endeavor Saudi Arabia Board of Directors. Mr. Nazer is also a member of CCHI’s Private Health Insurance Strategic Committee, a member of the Young Presidents Organization (YPO) and a member of Young Global Leaders (YGL).
Mr. Tal Nazer holds an MBA from The Wharton School, Pennsylvania, USA (in Finance and Buyouts, completed in 2001) and a BA in Economics from the University of California at Los Angeles (completed in 1996).

Hatim Jamal

Chief financial officer (CFO)

Hatim Jamal joined Bupa Arabia as Senior Director of Commercial Finance in 2021. He then rose to the position of Chief Financial Officer in 2024.
With more than 13 years of experience in several fields, Hatim’s areas of expertise include financial planning and analysis, accounting, tax, product/program development, strategy development, and operational excellence.
Prior to joining Bupa Arabia, he was a partner at Strategic Gears Management Consultancy, where he acted as an advisor for both private and public sector clients. He led various projects involving strategy development, economic impact assessment and operational excellence. At Proctor and Gamble, Hatim managed different assignments such as forecasting and planning, commercial finance, finance strategy, and finance control. He started working in the Saudi Arabia office which covers all markets in the Arabian Peninsula, then moved to the regional office in Switzerland where he managed the India, Middle East, and Africa region. Hatim holds a bachelor’s degree in Finance and Economics from King Fahd University of Petroleum and Minerals, and is pursuing a Master of Business Administration degree from London Business School.

Ali Sheneamer

Chief business development officer (CBDO)

Mr. Ali Mohammed Sheneamer has over 20 years’ collective experience in marketing, sales and general management of which 5 years in Saudi health insurance, having joined in 2013 as Chief Commercial Officer. Ali has served, before joining Bupa Arabia, as the Deputy Governor and Chief Operating Officer of SAGIA for five years. Prior to this Ali was employed as group marketing head at the National Commercial Bank for two years and in various marketing assignments at Procter & Gamble for eight years. Ali currently serves as a board member of Baazeem Trading Company (a publicly traded Saudi company) and Ahmed Mohamed Saleh Baeshen & Co. (a closed joint stock Saudi company) and he is a member of the SAMA health insurance sub-committee. Ali holds a Bachelor’s degree in science (computer engineering) from King Abdulaziz University, Saudi Arabia.

Tariq Alamoudi

Chief Human Resources Officer (CHRO)

Prior to joining Bupa Arabia, Tariq handled a wide range of leading roles in the Human Resources Department on global and regional levels at Procter & Gamble. He led P&G in Saudi Arabia as the country’s HR leader and spearheaded an overseas assignment at the company’s headquarters in Switzerland. Tariq holds an MBA degree in Strategy and HRM from Griffith Business School and a Bachelor’s degree in Marketing Management from Griffith University, Australia.

Atef Mufti

Chief Growth Officer (CGO)

Atef began his career with Saudi British Bank (SABB) in 1995 and spent more than 12 years working in the banking industry. During his tenure, he held senior management roles in branch network, sales and customer services, which led him to assume Executive roles as the Deputy General Manager, Personal Financial Services overlooking all sales function (branch, direct sales, financial planning and Takaful sales) in KSA. He spent a couple of years as the Managing Director for Saudi Distribution Company (part of Saudi Research & Marketing Group) followed by two years as the Western Region General Manager for Bank Al Bilad. Prior to joining Bupa Arabia, Atef was the Chief Commercial Officer and a member of the Board of Directors of Panda Retail Co. for six years. In this important position, he overlooked all the commercial buying and supply chain of Panda business in KSA, UAE & Egypt.
Atef holds a Bachelor’s degree in Marketing from King Fahad University of Petroleum and Minerals with a minor degree in Management.

Ryyan Tarabzoni

Chief Operations Officer (COO)

Ryyan Tarabzoni became the Chief Operations Officer of Bupa Arabia in 2024. Prior to his joining, Ryyan acted as the advisor to the CEO as well as the Chief Supply Chain Officer for Panda Retail, which belongs to Savola Group.
Ryyan has over 20 years of experience as a business and transformation leader of various sectors, spanning local and international markets. His areas of expertise include operational excellence, maximizing productivity, building quality assurance and developing supply chain excellence.
Ryyan began his career at Saudi Aramco in 1997 as an engineer in safety and loss prevention. He subsequently held a variety of senior positions at Proctor and Gamble and the National Industrialization Company (Tasnee). In his capacity as CEO of Jeddah Airports Company, Ryyan led and oversaw the transformation and corporatization of the King Abdulaziz International Airport. Before this, he was the CEO and board member of Saudi Air Navigation Services Company
For several distinguished organizations, Ryyan has taken on diverse roles on their boards and board committees and continues to do so.
Ryyan has a Bachelor of Science in Electrical Engineering from the University of the Pacific, California, USA. He successfully completed the Finance for Executives Program at INSEAD Business School in France, and has received a Certificate of Management Excellence from Harvard Business School, Boston, USA.

Amro Shawli

Chief Governance, Risk & Control Officer (CGRCO)

Mr. Amro Shawli joined Bupa Arabia in April 2022, as Chief Governance, Risk & Control Officer.
Amro has a collective of 18+ years of multi-sector experience in the areas of risk and audit. Prior to joining Bupa Arabia, Amro was Chief Audit Executive of Aramco America (also known as Aramco Services Company) in Houston, Texas, USA. In this capacity, he served as the Audit Manager for Aramco America’s subsidiaries including Saudi Petroleum International Inc., Saudi Refining Inc., Aramco Training Services Company, Aramco Performance Material and Aramco Associated Company.
Most recently, Amro held the position of Chief Audit Executive for Vision Invest International (VII), a leading development and investment company at the forefront of public and private sector partnerships in Saudi Arabia and the GCC. What’s more, Amro is the Advanced Piping Solutions Company Audit and Risk Committee (ARC) Chairman and a member of the East Pipes Company ARC. He also served in many other audit and risk committees at Miahona, Saudi Tabreed, Air Products Qudra and Saudi Arabian Logistics Companies.
Amro holds an MBA degree in Accounting and Finance from Cox Business School at SMU and a Bachelor of Science degree in Accounting and Marketing from Southern Illinois University. He is also a Certified Internal Auditor (CIA) and a Certified Management Accountant (CMA)

Ahmed Bajunaid

Chief Investment Officer (CIO)

Having joined Bupa Arabia as Head of Corporate Finance and Investments in 2018, Ahmed Bajunaid has led transformation activities related to the investment management function and has played a pivotal role in company-wide strategic initiatives. In 2019, he was appointed as Director of Asset Management and Business Advisory. Most recently, he assumed the role of Chief Investment Officer in 2024.
Ahmed possesses over 16 years of experience in investment management. Prior to joining Bupa Arabia, he worked at Sanabil Investments, where he was charged with investing and overseeing the organization’s global private equity program. Preceding this, he spent nine years at the Saudi Aramco Investment Management Department where he conducted strategy analysis and performed due diligence and reporting for private equity, public equities, and hedge funds. Ahmed also worked with Cambridge Associates as an investment consultant within the private equity research team between Boston and London.
Ahmed holds a Bachelor of Arts in Business Finance from Durham University and a Master’s of Business Administration from Columbia Business School.

Eng. Loay H. Nazer

(Non-Executive Member)

Chairman and board member of Bupa Arabia since its inception in 2008. Founder and Chairman of the Nazer Group Ltd. and a board member or chairman of various Nazer companies. Former chairman of Al-Ittihad Football Club, former vice-chairman of the Saudi Olympic Committee, former chairman of the Saudi Arabian Judo Federation, and former CHI board member.
Eng. Loay is not a board member in other Saudi PLCs. He is currently serving his sixth term as board member at Bupa Arabia, representing Nazer Group Company Ltd.
Eng. Nazer earned an MBA from Anderson Graduate School of Management at UCLA, USA, and holds a BSc in Mechanical Engineering from UCLA.

Mr. David Fletcher

Non-Executive Member (Vice-Chairman)

Representing the foreign shareholder: Bupa Investments Overseas Limited (BIOL)
Bupa Arabia Board member and Vice-Chairman, since 2014. Currently, Bupa Group Chief Risk Officer, and member of its Chief Executive Committee. He is also a Non-Executive Director of Niva Bupa (previously known as Max Bupa), Bupa’s health insurance business in India. Mr. Fletcher has extensive international experience in insurance and banking, having held various senior positions at Standard Chartered and Citibank, including the roles of Head of Audit and Country CEO.
Mr. Fletcher is currently serving his fourth term as Board Member at Bupa Arabia, representing BIOL.
Mr. Fletcher holds a BA Honours in Modern History from Durham University, United Kingdom.

Mr. Tal Hisham Nazer

Executive Member – Chief Executive Officer

Bupa Arabia CEO/Board Member since its inception in 2008.
Mr. Tal is not a Board Member in other Saudi PLCs. He is currently serving his sixth term as Board Member at Bupa Arabia.
Mr. Nazer holds an MBA Finance and Buyouts from Wharton, USA (2001), and a bachelor’s degree in economics from UCLA, USA (1996)

Dr. Abdulla Elyas

Independent Member

Independent Board Member at Bupa Arabia since July 2019.
Dr. Abdulla Elyas is a co-founder of Careem, the ride hailing company and Super App acquired by Uber in 2019. He’s currently Chairman of its business in KSA. Prior to that, he co-founded Enwani, a cloud-based addressing and home delivery start-up that was acquired by Careem in 2014. He serves as a Board Member at Endeavor KSA, TAM Development Company and at the EduTech start-up Noon. He’s also an advisory board member of the VC firm Raed Ventures.
Abdulla chairs the governmental initiative to enable five Saudi unicorns by 2025 and is a regional angel investor. Previously, he led management consulting engagements in Europe, the US, South East Asia and the Middle East.
Dr. Abdulla is not a Board Member in other Saudi PLCs. He is currently serving his second term as Board Member in Bupa Arabia.
Dr. Elyas holds a PhD in Business Administration and a MSc in Computer Science from RWTH Aachen, Germany.

Ms. Huda Bin Ghoson

Independent Member

Bupa Arabia Independent Board Member since July 2019.
Ms. Huda Bin Ghoson was the Executive Director of Human Resources at Saudi Aramco. She retired in December 2017.
Ms. Huda is currently serving her second term as Board Member at Bupa Arabia.
Ms. Huda earned an MBA from the American University of Washington, D.C., USA, and holds a BA in English Literature from the King Saud University in Riyadh. She has also completed executive training at Oxford University, Michigan Ross Business School, and Royal Academy of Dramatic Arts, London.

Mr. Osamah Shaker

Independent Member

An Independent Board Member since 2022, and an Independent Investment Committee Chairman since July 2019.
Mr. Osamah Shaker is CEO of GIB Capital, a Company wholly owned by GIP bank and based in Riyadh. Prior to joining GIB Capital, Mr. Shaker led the charge of banking control at the Saudi Central Bank (SAMA), overseeing and regulating all the commercial banks operating within Saudi Arabia. What’s more, he possesses an excess of 16 years of banking and investment related experience in the Kingdom, having held multiple leadership positions at both the Saudi British Bank and HSBC Saudi Arabia.
Additionally, Mr. Osamah has roughly 7 years working experience with the Institute of Public Administration (IPA) where he served as both a lecturer and statistical consultant. During his time at IPA, he also held the position of Head of the Department of Statistics.
Mr. Osamah is currently serving his first term at Bupa Arabia as Board Member.
Mr. Shaker earned a Master of Sciences in Statistics from Colorado State University, Fort Collins, Colorado, USA. He also holds a Bachelor of Administrative Sciences in Quantitative Methods from King Saud University, Riyadh, KSA.

Mr. Martin Houston

Non-Executive Member

Representing the foreign Shareholder: Bupa Investments Overseas Limited (BIOL)
Bupa Arabia Board Member since 1 October 2018 and served as a Non-Executive Director on the main Board of Bupa, from January 2014 until 31 December 2019.
He is the Chairman of Tellurian Incorporated, and the Advisory Chairman of Moelis and the Company’s Global Energy Group. He is also a Non-Executive Director of Energean plc and of CC Energy, both are exploration and production companies.
Mr. Houston is currently serving his third term as Board Member at Bupa Arabia, representing BIOL.
Mr. Houston earned a Master of Science in Petroleum Geology from Imperial College, London, UK, and holds a Bachelor of Geology from Newcastle University, UK.

Mr. Nader Ashoor

Non-Executive Member

Mr. Nader Ashoor joined Bupa Arabia as Chief Financial Officer in 2016. He was later promoted to Deputy Chief Executive Officer in 2023.
Mr. Nader Ashoor has previously served on numerous boards and committees. He has over 14 years of experience with Saudi Aramco in various leadership roles.
Mr. Nader Ashoor is currently serving his second term as a board member in Bupa Arabia.
Mr. Nader Ashoor holds an MBA from IMD International, Lausanne, Switzerland, and a bachelor’s degree in accounting from King Fahd University of Petroleum and Minerals

Mr. Nigel Sullivan

Non-Executive Member

Representing the foreign shareholder: Bupa Investments Overseas Limited (BIOL)
Bupa Arabia Board member since 2021. Currently Bupa Group Chief Sustainability and People Officer. He is a member of Bupa’s Chief Executive Committee.
Mr. Nigel Sullivan has extensive international experience in Human Resources having started his career at the Rover Group and has held senior HR positions at Nortel Networks, Marconi and Wincanton PLC where he was Group HRD.
He is currently serving his second term as Board Member at Bupa Arabia, representing BIOL.
Mr. Sullivan holds a Post-Graduate Diploma in Personnel Management (CIPD) and a BSc in Environmental Science.

Fiscal Results Year	No. of Shares in Issue	Dividends Per Share	Dividend Amount	Year Distributed
2022	150,000,000	3.8	540,000,000	2023
2021	120,000,000	4.5	540,000,000	2022
2020	120,000,000	3.4	408,000,000	2021
2019	120,000,000	N/A	N/A	N/A
2018	120,000,000	1.5	180,000,000	2019
2017	80,000,000	2	160,000,000	2018
2016	80,000,000	1.5	120,000,000	2017
2015	80,000,000	2	160,000,000	2016
2014	40,000,000	N/A	N/A	N/A
2013	40,000,000	0.5	20,000,000	2014
2012	40,000,000	1	40,000,000	2013
2009-2011	40,000,000	N/A	N/A	N/A

Name	Membership Type
Loay Nazer (Chairman)	Non-Executive Director (NED)
David Fletcher (Vice-Chairman)	Non-Executive Director (NED)
Osamah Shaker	Independent Member
Huda Bin Ghoson	Independent Member
Abdulla Elyas	Independent Member
Nigel Sullivan	Non-Executive Director (NED)
Martin Houston	Non-Executive Director (NED)
Tal Nazer (Managing Director)	Executive Director
Nader Ashoor	Non-Executive Director (NED)

Investor Relations

About Bupa Arabia

Bupa Arabia

Chairman’s Message

Bupa Arabia

Chief Executive Officer’s Review

Our Values

Our Purpose

Our Vision

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Our Stock and Financial Performance highlights

To see a copy of the Bupa Arabia Company bylaws, simply click on the link below. Please note that this is a large document and may take a while to open.

Principal Officers

Tal Nazer

Hatim Jamal

Ali Sheneamer

Tariq Alamoudi

Atef Mufti

Ryyan Tarabzoni

Amro Shawli

Ahmed Bajunaid

Board Members

Eng. Loay H. Nazer

Mr. David Fletcher

Mr. Tal Hisham Nazer

Dr. Abdulla Elyas

Ms. Huda Bin Ghoson

Mr. Osamah Shaker

Mr. Martin Houston

Mr. Nader Ashoor

Mr. Nigel Sullivan

What was the offering price at Bupa Arabia’s initial public offering (IPO), when was it and how successful was it?

What is Bupa Arabia’s current capital?

Who are Bupa Arabia’s major shareholders?

Does Bupa Arabia Pay dividends and what is Bupa Arabia’s dividend history?

How do I get a copy of the Annual Reports?

What is Bupa Arabia’s annual financial period and in what year were the first statutory financial statements issued?

Where can I get information on the company?

Who are Bupa Arabia’s independent external auditors?

Who is Bupa Arabia’s independent external actuary?

Who are the members of Bupa Arabia’s Board of Directors?

Does Bupa Arabia invest in any foreign companies?

Is Bupa Arabia considered an international company or a local company?

What are the laws and regulation for the online insurance activities?