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Bupa announced as the Official Healthcare Principal Partner to Glasgow 2026 Commonwealth Games

Bupa believes that every person should be able to access sport and its power to support our health.
As part of our growing commitment to encourage more people to experience the health benefits of movement and fulfil their potential, we are proud to be partnering with the Glasgow 2026 Commonwealth Games and the Commonwealth Sport GAPS Programme, as the Official Healthcare Principal Partner.
Through this partnership, Bupa will support a global sporting event, inspire healthier communities, champion inclusion, and promote active lifestyles.
An inclusive Games
Glasgow 2026 will be one of the largest multi-sport events in the world and one of the most inclusive to date, bringing together Para and Non-para athletes to compete on the same global stage.
This collaboration between Bupa and the Commonwealth Games is an opportunity to place inclusion at the forefront of a worldwide event, advocate for greater access to sport, and inspire more people to take part in physical activity regardless of their background or ability.
A sustainable Games
Glasgow 2026 aims to set a new standard for sustainable major sporting events. The Games will prioritise the use of existing venues and infrastructure, while taking meaningful steps to reduce waste and carbon emissions, and supporting Scotland’s Net Zero ambitions.
This aligns with Bupa’s commitment to making the places we live in healthier, as cities play a vital role in preventative healthcare.
Iñaki Ereño, Group CEO of Bupa, said: “We’re incredibly proud to be the Official Healthcare Principal Partner of the Glasgow 2026 Commonwealth Games. Sport has a unique ability to bring people together and play a powerful role in supporting both physical and mental health.
“This partnership reflects our ambition to help more people experience the positive impact of movement on our health. Glasgow 2026’s vision for a more inclusive and sustainable Games strongly aligns with our own, and we’re excited to play a part in helping bring that to life.”
Phil Batty OBE, CEO of the Commonwealth Games, said: “We are very excited by this partnership with Bupa. Glasgow 2026 Commonwealth Games is all about sport as a force for good, so it is a fantastic opportunity to be able to link up with a leading healthcare partner to work towards building a healthier nation.
“Bupa’s purpose in encouraging participation in sport aligns perfectly with our ambitions to deliver a Games that’s inclusive at its heart, one where everyone belongs and we’re proud to welcome them to our sponsor family.”
Colin Millar, Head of Marketing and Commercial Operations at Team Scotland, said: “Team Scotland is delighted to welcome Bupa as an official partner for the Glasgow 2026 Commonwealth Games. Their core values of inclusion and accessibility to physical activity are shared with us and we look forward to working together to create a lasting impact from these Games.”
The GAPS Programme
Bupa will also support the GAPS Programme, an initiative developed by Commonwealth Sport and Griffith University. The GAPS Programme is a network of training camps and partnerships, in developing and emerging nations, that help remove barriers to participation and strengthen Para sport pathways across the Commonwealth contributing to greater diversity at major international events. A camp will take place in Ayr, welcoming GAPS competitors ahead of Glasgow 2026.
Katie Sadleir, CEO of Commonwealth Sport, said: “We are delighted to have Bupa’s support for our pre-Games GAPS camp. Bringing Para athletes and their coaches together from across the Commonwealth in the final days before Glasgow 2026, the camp is an important part of helping athletes arrive ready to perform at their best. We are grateful to Bupa for helping to make this possible and can’t wait to see this exceptional group of athletes take their place on the Games stage.”
The impact of the GAPS programme has been demonstrated at recent editions of the Commonwealth Games. Nigeria’s Goodness Nwachukwu secured gold in women’s Discus F42 at Birmingham 2022, setting a new world record in the process. Destiny Agbo, also from Nigeria, won the first Para gold medal at a Commonwealth Youth Games at Trinidad and Tonbago 2023 in women’s Discus F42-44/ F61-64. Both athletes as well as other GAPS competitors will arrive in Ayr for a GAPS training camp ahead of Glasgow 2026.

Bupa opens world-class diagnostics centre in heart of Canary Wharf

Bupa has proudly unveiled its new outpatient and diagnostic centre, Bupa Health Care Canary Wharf, bringing together primary care, specialist diagnostics, and dental services under one roof in the heart of London’s central business district – a workplace destination for over 130,000 people.
The 20,000 square foot site, based at 50 Bank Street, will give speedy access to specialist and medical care, for treatment and wellbeing services to proactively stay on top of their health.
The centre will provide secondary care services including cardiology, urology, orthopaedics, pain and spinal, dental and maxillofacial, breast and gynaecology, ear, nose and throat, as well as carry out minor procedures onsite.
The state-of-the-art diagnostics facilities support the secondary care services, with MRI and CT scanners, an X-ray machine and mammogram, allowing customers to transition seamlessly from scheduled appointment to further investigation all under one roof.
Sarah Melia, General Manager for Bupa Health Services said: “We are pleased to open Bupa Health Care Canary Wharf, offering customers the convenience of access to specialist diagnostics and treatment. With so many businesses based in Canary Wharf and over 150,000 people living in the local area, it is a key location for us to open our new centre.
“We know the challenge of fitting health appointments around family, work and life responsibilities, so we are bringing integrated health services to customers where they live and work, making it easier to stay on top of their health.
“The opening of Bupa Health Care Canary Wharf continues our investment in clinical and diagnostic care across the Capital, having expanded Cromwell Hospital and acquired King Edward VII’s and New Victoria Hospital in 2025 to build our London hub of services. Whether seeking a preventative check, dental appointment or more in-depth care, we are continuously bringing new health innovation to meet our customers ever-changing health needs.”
The centre also offers primary care services including health assessments, private GP appointments, women’s health services such as Bupa’s Menopause Plan and Period Plan, weight management and physiotherapy appointments.
Customers will benefit from access to specialist pathways with easy onward referrals into secondary care across London for further treatment if required.
Bupa will also relocate the Canary Wharf Dental Care practice to 50 Bank Street, giving patients convenient access to diagnostics and treatment in one place. This integrated approach supports earlier intervention and ongoing oral health management, helping to improve long‑term wellbeing.
Mark Allan, General Manager for Bupa Dental Care added: “We know oral care is the gateway to wider health and wellness, with many systematic conditions surfacing symptoms in the mouth.
“Early intervention changes health outcomes, so locating dental teams alongside clinical specialists enables faster treatment pathways where early concerns are identified, for example, when a hygienist is concerned about something they see, the dental team can arrange fast access to a specialist within the same facility, helping patients move smoothly from assessment to treatment. This removes the need to find an external clinic or book multiple appointments, meaning patients receive seamless, joined up care alongside access to broader health services that support their long term wellbeing.”

Bupa appoints Philip Broadley, Bruno Holthof and Gill Whitehead as Non-Executive Directors

Bupa announced the appointments of Philip Broadley as a Non-Executive Director with effect from 1 April 2026 and Professor Bruno Holthof and Gill Whitehead, OBE as Non-Executive Directors from 10 April 2026.
Philip will join the Audit, Risk and Remuneration Committees, Bruno will join the Remuneration Committee and Gill will join the Risk Committee. All three will also join the Nomination & Governance Committee.
Philip brings extensive international life sciences and financial services experience having worked in both senior executive and non-executive board roles in four FTSE100 listed companies. Previously he was Group Finance Director of Prudential plc from 2000 until 2008 and subsequently held the same position at Old Mutual plc from 2008 until 2014. He has served as Chairman of 100 Group of Finance Directors and as a member of the Code Committee of The Takeover Panel. He was a director of Legal & General Group plc from 2016 until 2025, chairing the audit committee for six years and serving for a time as Senior Independent Director. Prior to his board roles, Mr. Broadley began his career at Arthur Andersen in 1983, becoming a partner in 1993, where he specialised in auditing banks and insurance companies. Mr. Broadley is a Fellow of the Institute of Chartered Accountants in England and Wales. Mr. Broadley graduated in Philosophy, Politics and Economics from St. Edmund Hall, Oxford, where he is now a St. Edmund Fellow. He holds an MSc in Behavioural Science from the London School of Economics. Philip is Chair of Lancashire Holdings Limited and Senior Independent Director and Audit Committee Chair at AstraZeneca PLC.
Bruno brings in-depth knowledge of healthcare systems in different markets, with an operational understanding of healthcare services and more than 10 years’ experience on the boards of public listed companies. He has previously served as CEO of Oxford University Hospitals NHS Foundation Trust (2015-2022) and CEO of the Antwerp Hospital Network (2004-2015). Prior to that he was a partner at McKinsey & Company, serving a wide range of healthcare clients in Europe and the United States and gained significant expertise in the areas of strategy, organisation and operations. He holds an MBA from the Harvard Business School and an MD/PhD from the University of Leuven. He is Investment Partner of the EQT Life Sciences Health Economics Funds and Visiting Professor of Health Innovation at the University of Oxford. Non-Executive Chair of Financière de Tubize, reference shareholder of UCB, a global biopharma company and Non-Executive Chair of Tristel plc, an AIM listed company providing innovative disinfection solutions to hospitals worldwide.
Gill brings significant executive and regulatory experience in the technology and media sectors having worked at Ofcom, Google, Channel 4 and the BBC. She is a Visiting Policy Fellow at the University of Oxford’s Internet Institute focusing on global developments in AI safety, and is a Responsible AI advisory panel member to UK Government Digital Services. Gill was Group Director, Online Safety at Ofcom until late 2024 and Chair of the Global Online Safety Regulator Network for 2024. Before that, from 2021 to early 2023, she was Chief Executive of the Digital Regulators Forum, a collaboration between the UK’s largest regulators. Gill spent four years as a Senior Director at Google, leading Market Insights and Client Solutions & Analytics teams, after holding several digital strategy and data leadership roles at Channel 4 and the BBC. She began her career at Deloitte Consulting. Gill’s Board experience spans FTSE 50 companies, public bodies and sport. She has previously served as a Non-Executive Director of the Financial Ombudsman Service and Camelot (operator of the UK National Lottery). She is currently a Non-Executive Director at NatWest Group plc, Informa plc, the British Olympic Association, and was Chair of the Women’s Rugby World Cup (England) 2025. She received an OBE in the 2026 King’s New Year Honours for services to women’s rugby.
Don Robert, CBE, Bupa Board Chair, said: “We are delighted to welcome Philip, Bruno and Gill to the Bupa Board. Their appointments will strengthen the financial services, clinical and digital experience on the Board at an important time in Bupa’s strategic development, and I look forward to working with them all.”

BUPA – Appointment of Don Robert as a Non-Executive Director and to succeed Roger Davis as Chair

Bupa announced that, subject to regulatory approval, Don Robert will be appointed to the Board as a Non-Executive Director in February 2025 and, following a period of handover, will succeed Roger Davis as Chair of Bupa in May 2025.
Cath Keers, Senior Independent Director, who led the Chair Selection Committee of the Bupa Board, said: “We have carried out a thorough global search process to identify a successor to Roger Davis, who will be retiring as Chairman of Bupa next year after more than nine years as a member of the Board. We are pleased to announce that, subject to regulatory approval, Don Robert will join the Board and become Chair of the Group next year. Don has a deep understanding of financial services, technology and data as well as significant Board-level experience at a range of international companies.
“On behalf of the Board, I would like to thank Roger for his outstanding leadership and contribution to Bupa since his appointment as Chairman in January 2019. He led the Board through the COVID-19 pandemic, spearheaded the Group’s humanitarian response to the war in Ukraine, and has supported the leadership team in transforming Bupa into an organisation which is focused on becoming the world’s most customer-centric healthcare company. We wish him well for the future.”
Roger Davis
Roger Davis, Bupa Chairman, said: “I have been honoured to serve as Chairman of Bupa since 2019 and I am delighted to welcome Don to the Board as my successor. His outstanding experience will provide the Board with the leadership required to support the continued transformation of the Group.
“I’m proud of the significant strategic progress Bupa has made during my time as Chairman, combined with improved financial performance and a strong focus on delivering the best experience for our customers. I would like to thank everyone at Bupa for their hard work, care and commitment, which has provided the strong foundations for our success as an organisation. With Don as Chair, I’m confident that Bupa will go from strength to strength under the continued leadership of Iñaki Ereño as CEO.”
Don Robert
Don Robert said: “I am looking forward to joining Bupa’s Board and then taking on the role of Chair when Roger Davis steps down. I hope to continue Roger’s work, alongside Iñaki and his executive team, in delivering Bupa’s strategy and supporting the business to achieve its ambition of being the world’s most customer-centric healthcare company.”

Bupa becomes the majority shareholder in Niva Bupa, its Indian health insurance business

Following regulatory approval by India’s Insurance Regulatory and Development Authority, Bupa has completed its agreement to increase its stake in Niva Bupa with its shareholding growing by 20% to 63%
Niva Bupa currently serves over 11 million customers and Bupa’s investment will support the next stage of growth across India as customer demand for health insurance increases
True North will continue as a significant minority partner to the business

Bupa, the global healthcare company, has become the majority shareholder in Niva Bupa, a leading Indian health insurer. In September, Bupa’s joint venture partner, True North, agreed to sell a significant part of its stake in Niva Bupa. This transaction has now received regulatory approval which means that Bupa’s shareholding has increased by around 20% to approximately 63%. The move comes as India’s insurance industry is experiencing strong growth amidst increasing awareness and demand for health insurance.
Bupa was a founding shareholder when the business (then known as Max Bupa) was first established in India in 2008. True North, the Indian private equity firm, became Niva Bupa’s majority shareholder in 2019. Over the last few years, Niva Bupa has had a strong growth trajectory, adding innovative new products, setting up a multi-channel distribution network and making the business increasingly digital and customer-centric. In 2023, Niva Bupa became the third-largest retail health insurer in India with 11.9 million customers and expanded its presence to nearly every region in the country. Bupa’s new investment will help to propel Niva Bupa to its next stage of growth.
The share transfer is one of the largest transactions in the Indian insurance industry by a global player since the IRDAI (Insurance Regulatory and Development Authority of India) permitted foreign entities to own up to 74% of an Indian insurer.
Iñaki Ereño, Group CEO of Bupa said: “We are immensely proud of how we have helped Niva Bupa grow into such a flourishing and successful business over the years. In becoming a majority shareholder, we are building on the foundation of our strong partnership with True North. We look forward to using our market expertise and global scale to help Niva Bupa continue to grow and serve even more customers with their healthcare needs.”
Krishnan Ramachandran, Managing Director and CEO of Niva Bupa said: “I am very excited by this vote of confidence in the health insurance opportunity in India and in the future of Niva Bupa. It gives renewed energy to both the employees and stakeholders of Niva Bupa to pursue growth and deliver on our purpose, which is to give every citizen of India the confidence to access the best healthcare. This also enhances our ability to bring global best practices to our business in order to provide an outstanding customer experience.”
Divya Sehgal, Partner, True North, said: “We are pleased to see Niva Bupa’s transformation in the last few years. Niva Bupa’s market share has significantly increased since 2019, a testament to the firm’s exceptional management and its bright future. Bupa has consistently proven to be a strong partner on this journey, and we are confident that this decision will further strengthen our collaboration and drive continued success for Niva Bupa.”

Bupa commits £2 million to global nature regeneration projects

The investment supports Bupa’s ambition to improve people’s health through restoring and regenerating nature
The funding has been allocated after over 55,000 people across 24 countries took part in Bupa’s global Healthy Cities challenge

Bupa, the international healthcare company, has committed to spend £2 million on projects that can restore and regenerate the natural environment in urban areas following the completion of its 2023 Healthy Cities programme by over 55,000 people around the world.
The programme aims to empower people to adopt healthy, long-term habits in their day-to-day lives, while preserving and regenerating urban and peri-urban green spaces. By completing a step challenge set via the Healthy Cities app, participants unlocked investment from Bupa into the restoration of the environment – from tree planting to help with reforestation and creating new urban forests, to building outdoor classrooms and gardens for schools and local communities.

The programme was already successfully implemented across Spain in 2015, followed by Poland, Mexico and Chile, before being rolled out across all of Bupa’s markets including Australia, New Zealand, the UK, Egypt, Dubai, and Hong Kong this year.
Over 55,000 people including Bupa employees, businesses and communities across 24 countries participated in the challenge between April and October which involved taking a minimum of 6,000 steps a day for a month, in line with physical activity recommendations from the World Health Organisation.

Creating greener and healthier cities can provide a win-win for both people and planet health. The World Economic Forum has actively called for greener cities, as trees provide shade and deflect radiation from the sun, while also cooling air and surface temperatures by moving water from the ground into the atmosphere. As well as slowing the warming effect of climate change, having greater access to nature has been shown to promote physical activity, which is linked to a more active lifestyle and better physical health. In particular, exercising outdoors has a positive effect on our mental state and can improve our overall health, especially our cardiovascular health and mood.
Bupa is working with local governments, NGOs and nature experts to ensure projects in different cities are beneficial to local ecosystems and residents. Through local environmental partnerships, Bupa is investing circa. £2 million in nature regeneration projects around the world, which include: the creation of new forests in, for example, Australia, Mexico and Brazil; providing green community grants to schools and charities in the UK; clearing waste from coastal areas in Hong Kong; restoring damaged ecosystems in Spain; regenerating areas damaged by wildfires in Chile; clearing plastic from the Nile in Egypt; and planting one tree for every Healthy Cities participant in Poland.

Nigel Sullivan, Chief Sustainability and People Officer at Bupa, said: “A core pillar of our sustainability strategy involves a long-term ambition for Bupa to play a leading role in improving people’s health through the restoration and regeneration of nature. Our Healthy Cities programme is an important part of achieving this, enabling us to engage thousands of people in the cities Bupa operates in and encouraging them to get involved in an initiative that can benefit both their health and the health of the planet.
“We’ve had great participation in our first global rollout of the programme, with over 55,000 people worldwide taking part this year. Now it’s our turn to deliver on our promise to reward their efforts with investment in restoring natural ecosystems, which could indirectly support the health of many more people across the world. We’re also getting ready to build on the success from this year through Healthy Cities 2024 so that we can empower even more people to take an active role in their health and wellbeing.”

Bupa announces new ANZ Chairman – Tony Johnson

Bupa announced Bryan Mogridge ONZM is to retire as Bupa ANZ Chairman at the end of 2023, with current ANZ Board Director Tony Johnson to become Chairman from 1 January 2024.
Bupa Group Chairman, Roger Davis said Mr Mogridge had made the decision to retire as Chairman following four years leading Bupa’s ANZ Board, having joined as a Non-Executive Director in 2013.
Mr Davis recognised that Mr Mogridge had steered the ANZ Board and Bupa business through a challenging time for the health sector, most notably during the COVID-19 pandemic, and the Royal Commission into Aged Care, and had done so with compassion and integrity.
“While Bryan will stay with us through to the end of 2023, on behalf of the Group Board, Group Executive, and everyone at Bupa, I’d like to thank Bryan for his long-standing dedication to Bupa’s purpose of helping people live longer, healthier, happier lives and making a better world, and for his leadership alongside our Executive team to drive improvements in our ANZ business and build a strong people culture,” Mr Davis said.
Mr Mogridge said: “It’s been a tremendous honour serving as Bupa ANZ’s Chair through a turbulent time in our sector. Despite some challenges, we have continued to build a strong foundation and grow our business to meet the changing health and wellbeing needs of consumers.
“I’m confident that the Bupa ANZ team is progressing well on our strategy to be the most customer-centric health organisation in the world and deliver better and more connected care for our customers.
“I genuinely believe it’s the people that make Bupa such a unique organisation; driven by their purpose and passion, I know Bupa will achieve great things. However, now is the right time for me to pass on the baton to the next Chair to help guide the Executive team and Bupa on the next phase of their ambitious strategy”.
Mr Davis said Mr Johnson is an experienced Executive leader and Non-Executive Director, having led the regional division of a global consulting firm for many years with a deep understanding of a diverse range of industries including health, financial services, government, and professional services.
“We’re delighted to have someone of Tony’s calibre and experience to lead our ANZ Board and draw on his vast leadership and governance experience. He has already made a big impact at Bupa as a Board Director,” Mr Davis said.
Mr Johnson joined the Bupa ANZ Board in 2022. He is a Director and Adviser and was most recently a Partner and CEO of global professional services firm EY in Oceania and was a member of EY Asia Pacific and global leadership teams. During more than 34 years, he combined senior firm leadership roles working with clients at large Australian and global organisations.
Current roles include Director of E&P Financial, member of the Advisory Boards of Fujitsu ANZ (Chair) and Kieser Australia, the Melbourne Cricket Club Committee, Board of the Melbourne Theatre Company and the Royal Melbourne Hospital Foundation. He is a Fellow of Finsia and Chartered Accountants Australia and New Zealand and holds a Master of Business Administration from the University of New South Wales, and a Bachelor of Economics from Monash University.
Mr Johnson said: “I’m looking forward to continuing to work closely with the ANZ Board and our Executive team as we continue to build on our strong foundation in the region and embark on a new period of growth and improved customer outcomes.”

Bupa Group half year financial results 2023

Revenue2 of £7.4bn was up 9% (HY 2022: £6.8bn) at Constant Exchange Rates (CER) with period-on-period growth across all lines of business and Market Units driven by:

Customer volume growth with insurance customers increasing by over four million, provision customers increasing by one million and occupancy rates in aged care 4ppt higher period-on-period.
The impact of pricing action, as we seek to balance continued high inflation, remaining competitive for customers and maintaining discipline in our underwriting of insurance risk.

This half year report for 2023 marks our first set of results reporting on the new IFRS 17 accounting standard for insurance contracts which does not impact the overall economics of our business or strategy, but does change the presentation of our results and specifically the following:

Under the new accounting rules, we are no longer able to hold certain provisions3 in Australia related to the COVID-19 pandemic. The absence of these provisions has led to significant fluctuations in both our restated H1 2022 and H1 2023 reported profits.

Underlying profit4 before taxation of £254m was down 22% at CER (HY 2022: £324m). This was principally driven by Australian health insurance where:

In the first half of 2022 we experienced lower claims frequency and higher margins due to the impact of COVID-19.
In the first half of 2023, costs associated with returning claims savings to customers increased to £231m (HY 2022: £109m).

Profits in our other Market Units grew significantly driven by higher investment returns, customer volume growth and the impact of premium rate changes in the Chile Isapre business reducing losses.
Statutory profit before taxation of £241m increased by 5% at AER (HY 2022: £231m) with the reduction in underlying profit offset by favourable movements in non-underlying items.
Solvency II capital coverage ratio remains strong at 171%5 (FY 2022: 181%) with leverage (excluding IFRS 16 lease liabilities) of 19.4% (FY 2022: 18.7%).

Bupa: Group full year financial results 2022

Revenue of £14.0bn was up 7% (2021: £13.1bn) at constant exchange rates (CER) with year-on-year growth in all our lines of business.Underlying profit1 before taxation of £575m was up 43% at CER (2021: £402m) and included a number of one-off exceptional trading items in our Market Units, which are broadly neutral at a Group level.There were asset impairments across goodwill, other intangibles and tangible assets during the second half of the year totalling £1bn. The material Business Unit impairments were UK Dental (£646m), Bupa Chile (£162m), BVAC Australia (£105m) and UK Care Services (£90m). In some cases, these were the result of macroeconomic factors and in other cases, due to market-specific dynamics which are further detailed below.Statutory loss before taxation of £(427)m is a decline from a profit of £423m in 2021 (a 201% decline at actual exchange rates (AER)).Continued implementation of our new 3×6 strategy drove strong customer volume growth, with one million more health insurance customers worldwide. In health provision, we grew by two million customers. Together with pricing action, these dynamics driven by customer demand offset global inflationary headwinds.
Solvency II coverage ratio2 remains strong at 181% (2021: 179%) with leverage (excluding IFRS 16 liabilities) improving to 18.5% (2021: 19.6%).

Market Unit and other Businesses underlying profit percentages are derived from reportable segments (which excludes central expenses and net interest margin). Revenues from associate businesses are excluded from reported figures. Customer numbers and economic share of post-tax profits from our associate businesses are included.
Business context
These results reflect continuing good organic growth across many of our insurance businesses and increased activity in health provision businesses to meet increasing customer demand.These results were offset by ongoing challenges in workforce availability across several markets, particularly in UK Dental. The impacts of COVID-19 have subsided in most of our markets but persisted in parts of our Asia Pacific Market Unit.During 2022, global inflation rose sharply resulting in higher central bank interest rates, leading to increased cost of capital which reduces the valuation of business units for impairment testing.Iñaki Ereño, Group CEO, commented:
“These results demonstrate positive underlying performance in a challenging economic environment and also reflect the rising demand for healthcare across all of our markets. We are making good progress implementing the new 3×6 strategy and we will accelerate this work through 2023 across all businesses.”We are transforming Bupa worldwide with a focus on digitalisation and customer service, and good organic customer growth demonstrates how our customers see the value of our services, even in a cost-constrained environment.”Significant goodwill impairments show that our businesses are not immune from macro-economic challenges and that we also have issues to fix in some businesses. We are encouraged by the quality of the growth across multiple businesses as they transform, while we continue to deliver quality and accessible healthcare for our customers.”
Market performance (all at CER)
Asia Pacific: Revenue declined marginally by 1% to £5,638m, largely due to our commitment to not benefit from COVID-19 by returning cash to, and deferring premium rises for, our Australian health insurance customers. Underlying profit was £302m, an increase of 32%, and 3% after removing the impact of, as yet, undistributed health insurance COVID-19 claim savings. Improved underlying profit reflects volume growth across insurance and provision, offset by reduced occupancy in aged care, due to the localised impacts of COVID-19 and workforce availability.Europe and Latin America: Revenue grew by 16% to £4,560m, and underlying profit increased by 40% to £233m. This included a one-off £40m Consumer Price Index (CPI) linked performance catch-up on a long-standing public private partnership (PPP) hospital contract in Spain. If excluded, the increase in underlying profit was 16%. This was driven by customer growth across most businesses and increased occupancy in Spanish aged care. This was offset by ongoing challenges affecting one of our businesses in Chile (the Isapre insurance business) which are explained in notes to the editor below.Bupa Global and UK: Revenue was up 9% to £3,752m, due to an increase in customers across insurance and health provision, alongside improved occupancy in UK Care Services. Underlying profit declined by 58% to £25m primarily due to a one-off £117m impairment to right of use leases and fixed assets in UK Dental. There was continued customer growth and improved loss ratios in health insurance, with Bupa Global, our International Private Medical Insurance (IPMI) business, returning to profitability. This outweighed higher staff and inflationary costs pressures in health provision and aged care, alongside a shortage of clinician hours in dental.Other businesses: Underlying profit of £58m is up 16% driven by strong underlying customer growth in our associate businesses as both the demand for private health insurance grew and these businesses emerged from the pandemic.
Financial position
• Solvency II capital coverage ratio of 181% (2021: 179%).• Leverage ratio is 26.3% (2021: 26.9%) including IFRS 16 lease liabilities. Excluding IFRS 16 liabilities, the leverage ratio is 18.5% (2021: 19.6%).• Net cash generated from operating activities was £966m, up £47m on prior year (2021: £919m3) primarily due to strong trading performance.
Other highlights
We continued to develop and roll-out Blua, our digital health solution, expanding it to 10 countries, including the UK.We launched our new sustainability strategy through which we will deliver health benefits for people and planet with innovative solutions to sustainability challenges.Through our business in Poland, LUX MED, we have been providing free healthcare support to Ukrainian refugees who have been forced to flee the war. To date, we have provided 320,000 free treatments to over 180,000 people and have employed 240 healthcare workers from Ukraine.We became the Official Healthcare Partner to Paralympics GB and Paralympics Australia, joining our existing partnerships in Spain, Poland and Chile.
Read the Bupa Group 2022 full year financial results statement.

Bupa seeks eco start-ups to improve planet health

Bupa is on the lookout for the next breakthrough start-up with big ambitions to improve the health of people and the health of the planet.
Today, the healthcare leader has launched its annual eco-Disruptive competition, which sees teams from across its UK and global businesses seek out sustainable start-ups to bring new and transformative concepts to the mainstream.
Budding eco start-ups can submit their forward-thinking products and inventions to the competition for a chance to collaborate with Bupa and roll out their solutions across its business and beyond.
Carlos Jaureguizar, CEO for Bupa Global & UK, said: “At Bupa, we’ve been looking after people’s health for the past 75 years. Today, this also means taking care of the planet as we know human health is dependent on planet health – the two are intrinsically linked. Through eco-Disruptive, we want to collaborate with innovative start-ups to tackle some of the biggest sustainability challenges and reduce impact of healthcare on the environment.”
The impact of healthcare on the environment is well established: healthcare’s climate footprint is 4.4% of the global total; meaning if it were a country, it would be the fifth largest emitter on the planet.
To address this, Bupa’s eco-Disruptive challenge is focusing on six areas that positively impact the environment and human health: decarbonisation; circular solutions; sustainable products and services; sustainable healthcare choices, healthy buildings; and urban restoration and regeneration.
Six start-ups working in each of these areas will receive initial funding to further develop business plans and share expertise in the health and care industry. The selected start-up will then go through to a global final to compete against teams in nine countries and regions that Bupa operates and be in the running to win up to £200,000 to further develop its solution.
Linda Ball, Director of Upcycled Medical and eco-Disruptive 2021 regional winner, said: “Upcycled Medical’s participation in Bupa’s eco-Disruptive programme and what we learned from it really helped accelerate our path to commercialisation. Despite finishing runner-up, our innovative work is now playing an important role in helping Bupa to create an ecologically sound, circular re-use system. I’m incredibly proud that we recently delivered our first order of medical scrubs and aprons which are made from recycled plastic to the Cromwell Hospital.”
Start-ups from across the UK can express an interest in taking part in Bupa’s eco-disruptive programme until 12 October. For more information and to apply, visit: www.bupa.com/sustainability/eco-disruptive/eco-disruptive-programme

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