Riyadh – Mubasher: Bupa Arabia for Cooperative Insurance Company has announced the results of its Extraordinary General Meeting (EGM), held on 30 June 2026, where shareholders approved a significant cash dividend distribution of SAR 600 million for 2025.
The meeting, conducted via modern technology with a 69.79% shareholder attendance rate, also saw the ratification of the company’s financial statements, the appointment of external auditors, and the approval of numerous related-party transactions involving board members and affiliated entities.
The assembly, presided over by Chairman Loay Hisham Nazer, focused heavily on the financial performance and governance of the company for the fiscal year ending 31 December 2025.
Shareholders reviewed and discussed the Board of Directors' report and the company’s financial statements for the period, ultimately granting discharge to the board members for their management during 2025.
A primary highlight of the meeting was the approval of the board’s recommendation to distribute SAR 4 per share, equivalent to 40% of the share’s nominal value.
Eligibility for these dividends was set for shareholders owning stock at the end of the trading day of the assembly, with distribution scheduled to commence on July 19, 2026. Furthermore, the assembly granted the board the authority to distribute interim dividends on a semi-annual or quarterly basis for the 2026 fiscal year, providing the company with greater flexibility in managing shareholder returns.
In terms of governance and leadership, the assembly approved the appointment of Penelope Ruth Dudley as a non-executive board member. Her term, which began following a board resolution in April 2026, is set to run until 30 June 2029.
The shareholders also ratified the total remuneration paid to board members for the 2025 fiscal year, amounting to SAR 11.27 million.
To ensure continued regulatory compliance, amendments to the company’s Corporate Governance Regulations and the policies for nominating and appointing board and committee members were also approved.
For the upcoming fiscal periods, the assembly appointed Deloitte and PwC as joint external auditors. This mandate covers the review and audit of financial statements for the second, third, and fourth quarters of 2026, the full 2025 year-end results, and the first quarter (Q1) of 2027. The fees were set at SAR 2.54 million for Deloitte and SAR 2.67 million for PwC.
A substantial portion of the agenda was dedicated to the approval of contracts and transactions with related parties.
These included reinsurance premiums with Bupa Insurance Services Limited totaling SAR 276.10 million and trademark fees paid to Bupa Middle East Holding amounting to SAR 47.50 million.
Other significant transactions included medical service costs with the International Medical Clinic Complex and Ayadati Advanced Medical Company, totaling approximately SAR 354.2 million, and insurance contracts with major financial institutions such as the Saudi National Bank (SAR 260.20 million) and Gulf International Bank (SAR 19.3 million).
The company emphasized that all such agreements were conducted on a commercial basis without preferential terms.
