Riyadh – Mubasher: Bupa Arabia for Cooperative Insurance reported a 22.7% year-on-year growth in net profits for the second quarter of 2018.
Bupa’s profits reached SAR 178.86 million ($47.86 million) during Q2-18, up from SAR 145.77 million ($38.86 million) in the year-ago period, according to a bourse statement.
Quarter-on-quarter, profits skyrocketed 1.183%, from SAR 9.348 million.
The insurance company attributed the rise in profits to a 3.4% increase in net earned premiums.
As for the six-month period ended 30 June 2018, Bupa’s profits grew 3.15% to SAR 188.2 million from SAR 182.47 million in the corresponding period of 2017, on the back of a 3.3% increase in net earned premiums.
By 11:17 am Saudi time, Bupa’s stock jumped 9.98% to SAR 90.40.
