We are an international healthcare company. Our purpose is helping people live longer, healthier, happier lives.

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Chairman's statement

2020 was a year like no other. The Board and I are extremely proud of the way everyone across Bupa has responded to the challenge of COVID-19.

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Group CEO's review

We must deliver for customers and play our part in society. Our focus is on growth, transformation and sustainability. We must grow the business of today. We must innovate and become the business of tomorrow. And we must act on the climate crisis – healthy people and healthy businesses need a healthy planet.

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ESG review

During 2020, we maintained a focus on environment, social impact and governance considerations in how we responded to the pandemic and more broadly. We continued to manage the impact of our business on the environment while developing a new strategy for the future.

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2020 in review


-2% AER 2019: £12.3bn
0% CER 2019: £12.1bn

Underlying profit[[2]]

-7% AER 2019: £416m
-4% CER 2019: £404m

Statutory profit/(loss) before tax

AER 2019: £(78)m

Solvency II capital coverage ratio[[3]]

2019: 159%

Net cash generated from operating activities

AER 2019: £697m

Customer image


Customers are at the heart of everything we do at Bupa. Our priority throughout 2020 was to  protect and support our customers, and play our part in national responses to the pandemic. This meant adapting our products and services so that people could continue to access care.

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People image


Our people are what makes Bupa special and it has never been more important than in 2020 for us to be there when they needed us most. Our focus has been to create a culture of care and trust, with high engagement and strong leadership, where everyone is welcome.

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Communities image


In 2020, we created a global Healthy Communities Fund in addition to the work of the Bupa Foundations in Australia, the UK and Spain. We focused on helping communities deal with the impact of COVID-19 as well as supporting mental wellbeing in young people and educators.

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Environment image


Climate change will be a shaping force on human health and we must understand it and act on it. This means addressing our direct business footprint to minimise harm and maximise our sustainability. It also means acting on our indirect value chain and advocating for change in the wider world.

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Market Unit performance as a percentage of total Group


-2% AER 2019: £12.3bn
0% CER 2019: £12.1bn

Group revenue
  1. ELA 31%
  2. BGUK 26%
  3. Other businesses 4%
  4. ANZ 39%
Underlying profit[[2]]

-7% AER 2019: £416m
-4% CER 2019: £404m

Group underlying profit
  1. ELA 39%
  2. BGUK 24%
  3. Other businesses 13%
  4. ANZ 24%

Australia and New Zealand


2% AER 2019: £4,652m
3% CER 2019: £4,589m

Underlying profit

(29)% AER 2019: 160m (28)% CER 2019: £158m

Revenue by business
  1. Bupa Health Insurance 78%
  2. Bupa Health Services 12%
  3. Bupa Villages and Aged Care Australia 7%
  4. Bupa Villages and Aged Care New Zealand 3%

Europe and Latin America


(2)% AER 2019: £3,853m
3% CER 2019: £3,656m

Underlying profit

18% AER 2019: £156m
19% CER 2019: £155m

Revenue by business[[4]]
  1. Sanitas Seguros 32%
  2. Sanitas Dental 4%
  3. Sanitas Hospitals 6%
  4. Sanitas Mayores 4%
  5. Bupa Chile 25%
  6. LuxMed (Poland) 11%
  7. Bupa Acıbadem Sigorta (Turkey) 5%
  8. Care Plus (Brazil) 5%
  9. Bupa Global Latin America 8%

Bupa Global and UK


(6)% AER 2019: £3,323m
(6)% CER 2019: £3,322m

Underlying profit

(6)% AER 2019: £117m
(5)% CER 2019: £116m

Revenue by business
  1. Bupa UK Insurance 46%
  2. Bupa Dental Care 12%
  3. Bupa Care Services 12%
  4. Bupa Health Services 4%
  5. Bupa Global 26%

Other businesses


1% AER 2019: £488m
1% CER 2019: £491m

Underlying profit

33% AER 2019: £46m
33% CER 2019: £46m

Share of revenue by business[[6]]
  1. Hong Kong 25%
  2. Bupa Arabia 71%
  3. Max Bupa 3%
  4. Other 1%


Below you can download our 2020 Annual Report and Accounts in full.
Alternatively, our Strategic and Governance reports can be downloaded individually:

Strategic Report

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Download (PDF 3MB)

Governance Report

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Download (PDF 1.2MB)