News Middle East08 Aug 2019

Saudi Arabia:Bupa Arabia's 1H net profit jumps

08 Aug 2019

Bupa Arabia for Cooperative Insurance has posted a 64.8% rise in net profit before zakat for the first six months of 2019 compared to the same period last year. Profit reached SAR310.2m ($82.7m) for 1H Bupa Arabia announced in a bourse filing. Bupa Arabia attributed the increase in net profit before zakat to a 23.2% rise in underwriting results, a 37.6% growth of investment and other income, and an 18.5% drop in provision for doubtful receivables. Net claims incurred increased by SAR427.47m, representing a 13.1% rise compared to 1H in 2018. The insurer's net profit after zakat and tax for H1 reached SAR261.56m compared to SAR144.17 m for the same period last year, an increase of 81.4%. Bupa Arabia is 39.25% owned by UK-headquartered Bupa Investments Overseas.

| Print | Share

Note that your comment may be edited or removed in the future, and that your comment may appear alongside the original article on websites other than this one.


Recent Comments

There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.