Top 20 Spotlight - 9. Bupa

AUGUST 2004 - Dean Pollard is appointed development director for Bupa International, with responsib...


- Dean Pollard is appointed development director for Bupa International, with responsibility for the development of key business projects, strategic alliances, marketing and product development.

JULY 2004

- Sanitas, Bupa's Spanish subsidiary announces that Pablo Juantegui Azpilicueta is to join its team in September as the new managing director. At the same time, after 13 years at the head of the company, John de Zulueta will become chairman of Sanitas and its subsidiaries. The current chairman, Junan Jose Lopez-Ibor, will stand down but will remain chairman of the Sanitas Foundation.

JUNE 2004

- Bupa withdraws from its pre-funded long-term care cover and will not accept any new business from 11 June.

APRIL 2004

- Bupa appoints Robert Walther as a non-executive director. He was chairman of Fleming Claverhouse and Fidelity European Values, and is a non-executive director of Nationwide Building Society.

MARCH 2004

- Reports a surplus before tax of £134.5m for the year to 31 December 2003. Chief executive Val Gooding says the result reflected increased sales across the group, careful cost control and consolidation of international acquisitions made in 2002. Group income, at £3368m was up 19.7%. Insurance income grew by 25% and income from non-insurance activities including hospitals, care homes, occupational health and health screening increased by 10%. Income from the UK and overseas insurance activities was £2281m (2002: £1827m) and reflected the first full year of trading for its Australian health insurance business, acquired in August 2002. The operating surplus for insurance activities increased by £48.2m to £146.1m. The group delivered a good performance in the UK and strong growth in membership numbers in both its Irish and Spanish insurance businesses. Ms Gooding adds: "In 2003 we achieved organic growth in our existing markets and consolidated acquisitions in our care homes and Australian insurance businesses. We have achieved significant growth in turnover and profits, with 32% of our operating surplus earned overseas."


- Forms a strategic alliance with Oman Insurance Company, a health insurer in the United Arab Emirates.

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