Riyadh – Mubasher: Saudi Arabia’s Bupa Arabia for Cooperative Insurance on Monday reported a 5% year-on-year rise in profits during the full-year 2018.

Bupa Arabia’s profits after calculating Zakat and Tax amounted to SAR 525.43 million ($140.08 million) from January to December 2018, up from SAR 500.61 million ($133.46 million) in 2017, according to a statement to the Saudi Stock Exchange (Tadawul).

The Saudi insurance services provider attributed 2018 profit growth to an increase in net underwriting, coupled with higher revenues from investments.

Bupa Arabia for Cooperative Insurance’s profits levelled down 8.6% to SAR 92.44 million from October to December 2018, compared to SAR 101.17 million in Q4-17, according to data compiled by Mubasher.

By 11:39 Saudi time, Bupa Arabia for Cooperative Insurance’s stock levelled down 1.42% to SAR 83.20.