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Bupa Arabia for Cooperative Insurance announces its interim financial results for the period ended 31/12/2012 (Twelve months) (Continue1)
9. Net income per share for the twelve months ended 31st December 2012 was SR3.37 compared to a net income per share of SR1.06 for the same period in 2011.
10. The surplus from insurance operations, before investment income, for the twelve months ended 31st December 2012, was SR131, 179K compared to a SR52, 563K income for the same period in 2011, representing a 150% increase in income.
11. Gross written premiums for the twelve months ended 31st December 2012 were SR2, 194,301K compared to SR1, 993,251K for the same period in 2011, representing a 10% increase. Net written premiums for the twelve months ended 31st December 2012 were SR2,191,958K compared to SR1,990,549K for the same period in 2011, representing a 10% increase.
12. The costs for net claims incurred for the twelve months ended 31st December 2012 were SR1,701,051K compared to SR1,551,030K for the same period in 2011, representing a 10% increase.
13. Net investment income from insurance operations for the twelve months ended 31st December 2012 was SR12,635K compared to a net investment income of SR2,341K for the same period in 2011, representing an increase of 440%. Net investment income of shareholders for the twelve months ended 31st December 2012 was SR10,068K compared to a net investment loss of SR254K for the same period in 2011.
14. The improved result for the three month period ended 31st December 2012, versus the same period of the previous year, was due mainly to an improved underwriting result of SR41,226K. The net underwriting result for the three month period ended 31st December 2012, versus the same period of the previous year, was SR119,134K compared to SR77,908K, representing a 53% increase.
(To be continued 2)
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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