Riyadh – Mubasher: The net profits before Zakat of Bupa Arabia for Cooperative Insurance Company climbed by 35.63% to SAR 712.654 million in 2019, compared to SAR 525.431 million in 2018.

The increase in net profits is attributed to a rise in the underwriting results by 20.1% to SAR 233.758 million as well as in the investment and other income by 28% to SAR 55.582 million, according to the company’s financial results for 2019 disclosed to the Saudi Stock Exchange (Tadawul) on Thursday.

Meanwhile, the company’s net written premiums surged by 21.43% to SAR 10.305 billion in 2019 from SAR 8.486 billion during the prior year.

The profit per share stood at SAR 4.97 last year from SAR 3.7 in 2018.

During the fourth quarter of 2019, the company’s net profits jumped 53.67% to around SAR 142 million, versus SAR 92.44 million in the same quarter of 2018, according to data collected by Mubasher.

It is noteworthy to mention that during the third quarter of 2019, the company saw a 6.38% increase in net profits to SAR 260.4 million from SAR 244.78 million during the corresponding period of 2018.