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Bupa Arabia For Cooperative Insurance Company (the “Company”) is a Saudi Joint Stock Company incorporated in the Kingdom of Saudi Arabia as per the Ministry of Commerce and Industry’s Resolution number 138/K dated 24 Rabi Thani 1429H (corresponding to 1 May 2008). The Commercial Registration number of the Company is 4030178881 dated 5 JumadAwwal 1429H (corresponding to 11 May 2008).
The Company is licensed to conduct insurance business in the Kingdom of Saudi Arabia under cooperative principles in accordance with Royal Decree No. M/74 dated 29 Shabaan 1428 H (corresponding to 11 September 2007) pursuant to the Council of Ministers’ Resolution No 279 dated 28 Shabaan 1428 H (corresponding to 10 September 2007).
Bupa Arabia received on 07/02/2023, the approval from SAMA of the renewal of its insurance activities license, for the three (3) year period starting from 06/08/1444H, corresponding to 26/03/2023G, and ending on 05/08/1447H, corresponding to 24/01/2026G.
Bupa Arabia listed on the Saudi Stock Exchange (Tadawul) on 12/05/1429H, corresponding to 17/05/2008G, and as a publicly listed Company is regulated by the Capital Market Authority (CMA). The CMA website related information, about Bupa Arabia, can be reached through the following link which will take you to the Bupa Arabia home page on Tadawul:
Bupa Arabia's CHI license was renewed following the receipt of the formal approval letter from the Secretary General of the Council of Health Insurance (CHI) of its CHI health insurance license renewal for three years effective from 05/08/1444H corresponding to 15 February 2023G.
As a company with foreign shareholders, Bupa Arabia is subject to the foreign investment laws of SAGIA. Bupa Arabia’s SAGIA license, number 11203103440, as originally issued on 26/01/1426H, corresponding 07/03/2005G, is currently valid until 16/02/1444H, corresponding to 13/09/2022G.
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.
Board Member (Executive)
Board Member (Executive), and Chief Financial Officer (CFO)
Mr. Nader Ashoor was appointed as Executive Board Member, effective 30/06/20, having joined Bupa Arabia in November 2016, as Chief Financial Officer.
Prior to joining Bupa Arabia Nader spent over 14 years with Saudi Aramco, where he had taken on various professional, supervisory and leadership roles, including the role of Director, IPO Design, and then Director, Finance readiness-IPO. In addition to
his regular duties, Nader also served as Investment Committee Member of the Saudi Aramco Entrepreneurship Ventures Company.
Since 2018 Nader has been an independent Board member, and member of the Audit Committee, of Saudi Steel Pipes (SSP), a Saudi publicly listed company and leading manufacturer of pipes in the MENA region.
Nader holds an MBA degree with distinction in leadership from IMD International in Lausanne, Switzerland, as well as a Bachelor’s degree in Accounting (first class honors) from KFUPM. He also holds the CMA and CIA certifications and has successfully
completed the rigorous CPA examination requirements.
Nader has also received multiple coveted awards, including the Prince Mohammad bin Fahd Academic Excellence Award, the IMA’s Distinguished Performance Award and the IIA’s William S. Smith Certificate of Honor Award.
Chief Business Development Officer, CET
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.
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.
Chief of Sales
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.
Chief Operations Officer (COO)
Mr. Mohamed El Missaoui joined Bupa Arabia in 2011 as the Director – Total Quality Management and spearheaded the design and the implementation of the Bupa Arabia Service Excellence Framework, leading the implementation of a number of innovations in the Operations and Healthcare services areas. Since 2013, as Director of Operations, Mohamed was in charge of the service operations areas related to customer service, mega accounts, membership fulfilment and quality, and during 2018 was promoted to the role of Chief Operating Officer.
Prior to joining Bupa Arabia, Mohamed was with Unilever MENA and led a variety of different MENA assignments related to the Supply Chain, ranging from Distribution, Logistics, and Customer service, to industrial engineering and quality. Mohamed has a collective more than 18 years’ experience in the insurance, banking and FMCG sectors and prior to Unilever worked for two major North African banks.
Mohamed holds electro-mechanical engineering and MBA Finance degrees.
Chief Governance, Risk & Control Officer (CGRCO)
Minutes from the completed General Assembly Meetings
A summary of all of the Bupa Arabia General Assembly Meetings is reflected below together with a PDF of the minutes:
* Only Arabic version is available.
To see a copy of the Bupa Arabia Share Prospectus, simply click the button below.
Please be aware that this is a large document and may take a minute or two to open.