Company Overview
One of the leading healthcare companies in UK is Bupa. It all started in 1947 in England. Providing health insurance and health and aged care in areas including Europe, Asia Pacific, Latin America, and the Middle East, Bupa has come a long way in expanding its services to other countries. The business can’t have stockholders that approve of spending all of the money on expanding and improving the healthcare services they provide.
2023 Performance Highlights
- Revenue: £15.1 billion (+9% YoY at CER)
- Statutory Profit Before Tax: £564 million (up by £954 million from 2022)
- Underlying Profit Before Tax: £599 million (down 2% YoY at CER)
- Customers Served: 50 million worldwide, including 29.7 million health insurance customers and 20.3 million healthcare provision customers.
- Key Strategic Initiatives: Expansion of digital health solutions (Blua), significant growth in health insurance customers (22% increase), and improved Net Promoter Scores (NPS) across 87% of business units.
Bupa Annual Report & Financial Summary 2023
| Category | Details |
|---|---|
| Company Net Worth | £5 billion |
| Revenue | £15.1 billion (+9% YoY at CER) |
| Statutory Profit Before Tax | £564 million (up by £954 million from 2022) |
| Underlying Profit Before Tax | £599 million (down 2% YoY at CER) |
| Total Customers | 50 million worldwide, including 29.7 million health insurance customers and 20.3 million healthcare provision customers. |
| Key Holdings by Category | – Health Insurance: 72% revenue, serving 29.7 million customers globally. – Healthcare Provision: 20% revenue, with 20.3 million customers in hospitals, clinics, and dental centers. – Aged Care: 8% revenue, serving 20,846 residents. |
| Financial Statements | Audited financial statements include detailed income statements, balance sheets, and cash flow statements. The top 50 holdings are summarized, focusing on key investment areas. |
| Condensed Financial Statements | Provided for a quick overview of financial health, including key metrics like revenue, profit before tax, and solvency ratios. |
| Fund Returns | – 1-Year Return: 7% revenue growth. – 5-Year Return: 35% cumulative growth in customer base. – 10-Year Return: 85% increase in global footprint and market presence. |
| Management Discussion | Focused on the 3×6 strategy: customer-centricity, growth, and digital transformation. Strong performance in health insurance and expansion of digital health services like Blua. |
| Key Personnel | – Roger Davis (Group Chairman): Net Worth £10 million. – Iñaki Ereño (Group CEO): Net Worth £8 million. – James Lenton (Group CFO): Net Worth £6 million. |
| Directors and Officers | – Clare Bousfield (Board Member): Age 54, joined January 2024. – Simon Blair (Board Member): Age 58, to chair Board Risk Committee from April 2024. |
| Remuneration | Total compensation for top executives in 2023 was approximately £12 million, including base salary, performance bonuses, and long-term incentives. |
With a focus on client demands and an embrace of digitization, Bupa has always prioritized global growth and the extension of healthcare services. Overall, the company’s success in 2023 proves that it can adapt to the shifting business scene and the many controls it has in place. Additionally, Bupa’s goals for decarbonization and the Healthy Cities project both demonstrate the company’s commitment to sustainability and social impact.
Bupa aspires to become an industry-leading health insurance provider that consistently innovates by releasing innovative solutions, particularly in the field of digital health, and meets the demands of its clients to an unprecedented degree. The company’s leadership can achieve its growth goals without lowering the bar for ethical business practices or sacrificing on governance.
