Riyadh – Mubasher: Bupa Arabia for Cooperative Insurance on Thursday said its net profits retreated 16.7% year-on-year in the third quarter of 2017.
Net profits tumbled to SAR 216.98 million in Q3-17, from SAR 260.35 million in Q3-16, according to a bourse filing.
Quarter-on-quarter, profits went up 48.9%.
The firm attributed the decrease in its year-on-year net profits to a drop in underwriting results by SAR 78.43 million, in net earned premium by SAR 1.74 million, and in Gross Written Premium (GWP) by SAR 56.03 million.
The company’s net profits fell 8.6%, reaching SAR 399.45 million from January until September 2017, compared to SAR 437.22 million in the same period in the year earlier.
By 10:53 am KSA time, the stock declined 0.18% to SAR 109.
