Bupa Arabia for Cooperative Insurance Co. announces the board’s recommendation to restructure the company by way of demerging into two companies

The suggested Demerger includes distributing the assets and liabilities of the company related to the insurance business—including insurance contracts with clients and the employment contracts of employees in specific departments—to the company resulting from the Demerger, in accordance with the details that will be provided in the shareholders circular that is to be published in due course.

The company had announced on 18/03/1447H (corresponding to 10/09/2025G that it received on 17/03/1447H (corresponding to 09/09/2025G), a non-objection letter from the Insurance Authority regarding the company's restructuring and conversion of its legal entity to a holding company, with the holding company continuing to be listed. The recommendation of restructuring comes in the context of 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.

The Demerger is subject to the approval of the Company’s Extraordinary General assembly (“EGM”), which the Company will announce the invitation for in due course. The EGM’s agenda will include the Demerger along with the related bylaws’ amendments.

Well in advance of the Demerger EGM, the Company will publish a circular to its shareholders which will include the details of the Demerger, risk factors, and other financial and legal information, which would allow the shareholders to make informed decisions on the EGM resolutions.

The Company will announce any material developments in due course in accordance with the applicable laws and regulations.