Saudi: Bupa Arabia’s profits surge 122% in Q1-23

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The insurance revenues enlarged by 27.20% YoY

Staff Writer, Mubasher

May 29, 2023

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Riyadh – The net profits before Zakat of Bupa Arabia for Cooperative Insurance Company hit SAR 230.13 million in the first quarter (Q1) of 2023.

The registered net profits were higher by 122.27% year-on-year (YoY) than SAR 103.53 million, according to the financial results.

Earnings per share (EPS) jumped to SAR 1.26 in Q1-23 from SAR 0.40 in Q1-22.

Meanwhile, the gross written premiums (GWP) reached SAR 5.40 billion during the January-March 2023 period, an annual hike of 28.11% from SAR 4.22 billion.

The insurance revenues enlarged by 27.20% YoY to SAR 3.75 billion in Q1-23 from SAR 2.94 billion.

Last year, the company’s net profits before Zakat widened by 40.53% to SAR 1.0

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