Bupa Arabia reports 11% profit decline in 2021

Bupa Arabia for Cooperative Insurance Co. disclosed a profit decline to SR 731 million in 2021 from SR 824 million in 2020, according to its annual financial result statement published on Tadawul.

The company recorded a surge by 92% of net profit of shareholders capital investment to SR 176 million in 2021 from SR 92 million a year earlier. Its total shareholders’ equity (after Deducting Minority Equity) soared by 8% to SR 4.18 billion in 2021 from SR 3.87 billion a year ago.

The profit per share (EPS) declined to SR 5.23 in 2021 from SR 5.83 a year earlier.

 The lower profit was mainly due to decline by 11.3% in underwriting results of SR 156,101 in 2021, decrease by 1.1% of net earned premiums to SR 116,767.

Bupa Arabia said that operating expenses increased by 3.2% to SR 714,240 in 2021, while total insurance operations comprehensive income dipped by 52.8% to SR 43,264 from SR 91,695 in 2020.