Bupa Arabia for Cooperative Insurance Co. called an extraordinary general meeting (EGM) in March 2026 to seek shareholder approval for a proposed corporate split and issued its shareholder circular. 
The company said the restructuring involves transferring its insurance-related assets and liabilities to the newly established entity. This will take place, in line with the Companies Law and relevant regulations. The transfer will include all insurance business assets and obligations, including customer insurance contracts and certain employee contracts, while other activities will remain under the existing entity.
Shareholders will vote on the net assets to be transferred to the new company, comprising share capital of SAR 1.5 billion divided into 150 million ordinary shares with a par value of SAR 10 each, a statutory reserve for insurance operations of SAR 1.5 billion, retained earnings of around SAR 1.58 billion, an end-of-service benefits reserve of SAR 5.6 million, and a fair value reserve for investments of SAR 84.3 million.
Other agenda items also include a proposal to rename the current entity “Bupa Arabia Holding” (or any another name subject to Ministry of Commerce approval), grant the trade name “Bupa Arabia for Cooperative Insurance” to the newly incorporated company, and transfer net assets of SAR 4.49 billion as a contribution to the new entity.
The shareholder circular was issued, Bupa Arabia added.
Bupa Arabia for Cooperative Insurance Co. called an extraordinary general meeting (EGM) in March 2026 to seek shareholder approval for a proposed corporate split and issued its shareholder circular.
The company said the restructuring involves transferring its insurance-related assets and liabilities to the newly established entity. This will take place, in line with the Companies Law and relevant regulations. The transfer will include all insurance business assets and obligations, including customer insurance contracts and certain employee contracts, while other activities will remain under the existing entity.
Shareholders will vote on the net assets to be transferred to the new company, comprising share capital of SAR 1.5 billion divided into 150 million ordinary shares with a par value of SAR 10 each, a statutory reserve for insurance operations of SAR 1.5 billion, retained earnings of around SAR 1.58 billion, an end-of-service benefits reserve of SAR 5.6 million, and a fair value reserve for investments of SAR 84.3 million.
Other agenda items also include a proposal to rename the current entity “Bupa Arabia Holding” (or any another name subject to Ministry of Commerce approval), grant the trade name “Bupa Arabia for Cooperative Insurance” to the newly incorporated company, and transfer net assets of SAR 4.49 billion as a contribution to the new entity.
The shareholder circular was issued, Bupa Arabia added.
