Bupa Arabia for Cooperative Insurance Co's (Bupa Arabia) board of directors has recommended a corporate restructuring through a demerger into two companies.
In a filing on the Saudi Exchange (Tadawul) yesterday, Bupa Arabia said that the proposed demerger would involve transferring all assets and liabilities related to the company’s insurance business to a new, wholly owned closed joint stock company. This would include insurance contracts with clients and the employment contracts of employees in specific departments.
Bupa Arabia said the demerger is subject to approval by an extraordinary general assembly, which will be scheduled later. In advance of the assembly, the company will provide details in a circular to shareholders, which is to be published in due course.
Bupa Arabia added that it had received a no-objection from the Insurance Authority on 9 September 2025, for a proposed restructuring aimed at transforming the company into a holding company, with the holding company continuing to be listed.
The company said the plan includes separating the insurance business and transferring it to a new subsidiary, adding that it is currently finalising details of the proposal as part of its ambition to become a leading national group in integrated healthcare.
The restructuring, when effected, will be in line with the company’s desire to achieve its ambition of becoming a leading national group in integrated healthcare and contributing to the broader healthcare objectives of the Kingdom in line with Saudi Vision 2030, Bupa Arabia added.