Bupa Arabia for Cooperative Insurance Co. announces its Interim Consolidated Financial Results for the period ending on 2025-06-30 ( Six Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Insurance Revenues | 4,715,717 | 4,562,414 | 3.36 | 4,409,764 | 6.938 |
| Result of Insurance Services | 231,115 | 390,584 | -40.828 | 389,808 | -40.71 |
| Net Profit (Loss) of The Insurance Results | 229,078 | 377,327 | -39.289 | 351,186 | -34.77 |
| Net Profit (Loss) of The Investment Results | 184,571 | 182,857 | 0.937 | 186,217 | -0.883 |
| Net Insurance Financing Expenses | - | - | - | - | - |
| Net Profit (Loss), After Zakat, Attributable To Shareholders | 286,253 | 404,604 | -29.251 | 380,232 | -24.716 |
| Total Comprehensive Income | 257,374 | 375,428 | -31.445 | 451,133 | -42.949 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Insurance Revenues | 9,125,481 | 8,936,472 | 2.115 |
| Result of Insurance Services | 620,923 | 729,063 | -14.832 |
| Net Profit (Loss) of The Insurance Results | 580,264 | 698,928 | -16.978 |
| Net Profit (Loss) of The Investment Results | 370,788 | 341,001 | 8.735 |
| Net Insurance Financing Expenses | - | - | - |
| Net Profit (Loss), After Zakat, Attributable To Shareholders | 666,485 | 764,027 | -12.766 |
| Total Comprehensive Income | 708,507 | 675,771 | 4.844 |
| Total Shareholders Equity (after Deducting Minority Equity) | 5,243,994 | 4,799,999 | 9.249 |
| Profit (Loss) per Share | 4.46 | 5.1 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the revenues during the current quarter compared to the same quarter of last year is | Insurance revenue for the current quarter amounted to SR 4,715,717K, compared to SR 4,562,414K during the similar quarter of the previous year, an increase of 3.36%, which was principally driven by business growth and increase in insured lives. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Profit before zakat and income tax attributable to shareholders for the current quarter amounted to SR 331,829K, compared to SR 464,806K during the similar quarter of the previous year, a decrease of 28.61%.
Net profit after zakat and income tax attributable to shareholders for the current quarter amounted to SR 286,253K, compared to SR 404,604K during the similar quarter of the previous year, a decrease of 29.25%, which was due to the following main reasons:
• Insurance service result for the current quarter amounted to SR 231,115K compared to SR 390,584K during the similar quarter of the previous year, a decrease of 40.83%, which was principally driven by increased inflationary trends and claims seasonality affecting margins during the current quarter.
• Net insurance service result for the current quarter amounted to SR 229,078K, compared to SR 377,327K during the similar quarter of the previous year, a decrease of 39.29%, which was principally driven by increased inflationary trends and claims seasonality affecting margins during the current quarter.
These unfavorable movements were partially offset by the following:
• Net investment results for the current quarter amounted to SR 184,571K, compared to SR 182,857K during the similar quarter of the previous year, an increase of 0.94%.
• Other operating expenses for the current quarter amounted to SR 95,322K compared to SR 108,369K during the similar quarter of the previous year, a decrease of 12.04%.
• Net other revenue for the current quarter amounted to SR 13,502K, compared to SR 12,991K during the similar quarter of the previous year, an increase of 3.93%.
Total comprehensive income for the current quarter amounted to SR 257,374K compared to SR 375,428K during the similar quarter of the previous year, a decrease of 31.45%.
Moreover, Gross Written Premiums (GWP) for the current quarter amounted to SR 5,593,789K compared to SR 3,616,701K during the similar quarter of the previous year, an increase of 54.67%. |
| The reason of the increase (decrease) in the revenues during the current quarter compared to the previous quarter is | Insurance revenues for the current quarter amounted to SR 4,715,717K, compared to SR 4,409,764K during the previous quarter, an increase of 6.94%, which was principally driven by business growth and increase in insured lives. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous quarter is | Profit before zakat and income tax attributable to shareholders for the current quarter amounted to SR 331,829K, compared to SR 443,698K during the previous quarter, a decrease of 25.21%.
Net profit after zakat and income tax attributable to shareholders for the current quarter amounted to SR 286,253K, compared to SR 380,232K during the previous quarter, a decrease of 24.72%, which was due to the following main reasons:
• Insurance service result for the current quarter amounted to SR 231,115K, compared to SR 389,808K during the previous quarter, a decrease of 40.71%, which was principally driven by increased inflationary trends and claims seasonality affecting margins during the current quarter.
• Net insurance service result for the current quarter amounted to SR 229,078K, compared to SR 351,186K during the previous quarter, a decrease of 34.77%, which was principally driven by increased inflationary trends and claims seasonality affecting margins during the current quarter.
• Net investment results for the current quarter amounted to SR 184,571K, compared to SR 186,217K during the previous quarter, a decrease of 0.88%.
These unfavorable movements were partially offset by the following:
• Net other revenue for the current quarter amounted to SR 13,502K, compared to SR 12,715K during the previous quarter, an increase of 6.19%.
• Other operating expenses for the current quarter amounted to SR 95,322K compared to SR 106,420K during the previous quarter, a decrease of 10.43%.
Total comprehensive income for the current quarter amounted to SR 257,374K compared to SR 451,133K during the previous quarter, a decrease of 42.95%.
Moreover, Gross Written Premiums (GWP) for the current quarter amounted to SR 5,593,789K compared to SR 6,440,958K during the previous quarter, a decrease of 13.15%. |
| The reason of the increase (decrease) in the revenues during the current period compared to the same period of the last year is | Insurance revenue for the current period amounted to SR 9,125,481K, compared to SR 8,936,472K during the similar period of the previous year, an increase of 2.12%, which was principally driven by business growth and increase in insured lives. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | Profit before zakat and income tax attributable to shareholders for the current period amounted to SR 775,527K, compared to SR 880,929K during the similar period of the previous year, a decrease of 11.96%.
Net profit after zakat and income tax attributable to shareholders for the current period amounted to SR 666,485K, compared to SR 764,027K during the similar period of the previous year, a decrease of 12.77%, which was due to the following main reasons:
• Insurance service result for the current period amounted to SR 620,923K, compared to SR 729,063K during the similar period of the previous year, a decrease of 14.83%, which was principally driven by increased inflationary trends affecting margins during the current period.
• Net insurance service result for the current period amounted to SR 580,264K, compared to SR 698,928K during the similar period of the previous year, a decrease of 16.98%, which was principally driven by increased inflationary trends affecting margins during the current period.
• Other operating expenses for the current period amounted to SR 201,742K compared to SR 184,100K during the similar period of the previous year, an increase of 9.58%, arising from increased expenditure to support business growth.
These unfavorable movements were partially offset by the following:
• Net investment results for the current period amounted to SR 370,788K, compared to SR 341,001K during the similar period of the previous year, an increase of 8.74%.
• Net other revenue for the current period amounted to SR 26,217K, compared to SR 25,100K during the similar period of the previous year, an increase of 4.45%.
Total comprehensive income for the current period amounted to SR 708,507K compared to SR 675,771K during the similar period of the previous year, an increase of 4.84%.
Moreover, Gross Written Premiums (GWP) for the current period amounted to SR 12,034,747K compared to SR 10,866,143K during the similar period of the previous year, an increase of 10.75%. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | None |
| Reclassification of Comparison Items | No Reclassification |
| Additional Information | The earnings per share (EPS) for the current period is SR 4.46 per share versus SR 5.10 per share for the similar period of the previous year which is calculated by dividing the net income attributed to the shareholders after zakat and income tax of SR 666,485K over the weighted average number of ordinary outstanding shares of 149,360K for the current period and SR 764,027K over 149,720K shares for the similar period of the previous year.
Total shareholders’ equity (no minority interest) as at end of current period is SR 5,243,994K versus SR 4,799,999K as at end of the similar period of the previous year, an increase of 9.25%.
Total equity at end of current period is SR 5,247,523K versus SR 4,770,902K as at end of the similar period of the previous year, an increase of 9.99%. |
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