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Bupa Arabia logs SAR 429m profits in H1-22 interim results

Bupa Arabia logs SAR 429m profits in H1-22 interim results
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BUPA ARABIA
8210
0.25% 159.60 0.40

Riyadh – Mubasher: Bupa Arabia for Cooperative Insurance Company’s net profits before Zakat went down by 15.73% to SAR 428.97 million during the first half (H1) of 2022, compared to SAR 509.02 million in H1-21.

Earnings per share (EPS) plummeted to SAR 2.93 in H1-22, versus SAR 3.58 in the year-ago period, according to the interim financials on Thursday.

Meanwhile, the net written premiums (NWP) reached SAR 7.16 billion in the January-June 2022 period, an annual surge of 23.94% from SAR 5.78 billion.

During the second quarter (Q2) of 2022, the company achieved net profits before Zakat worth SAR 291.02 million, a 12.77% year-on-year (YoY) drop from SAR 333.61 million.

The net written premiums in Q2-22 grew by 16.34% to SAR 2.96 billion from SAR 2.55 billion in Q2-21.

In the first three months (3M) of 2022, Bupa Arabia recorded a 21.35% YoY plunge in net profit before Zakat to SAR 137.95 million, compared to SAR 175.41 million.