Riyadh - Mubasher: The net profits before Zakat of Bupa Arabia for Cooperative Insurance were SAR 823.7 million during the year 2020, up by 15.6% from SAR 712.7 million in 2019.

The increase in the insurer’s annual profit was backed by an increase in underwriting results by 19.5% or SAR 225,368 and a hike in net earned premiums by 14.6% or SAR 1.363 million, according to a stock exchange statement on Tuesday.

In the meantime, the company logged a lower provision for doubtful receivables by 9.8% or SAR 3,137.

However, these favourable variances were partially offset by a rise in some expenses, the statement added.