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Bupa Arabia for Cooperative Insurance announces its interim financial results for the period ended 31/03/2013 (Three months)
Bupa Arabia for Cooperative Insurance announces its interim financial results for the three month period ended 31/03/2013, as detailed below:
1. Net loss, before Zakat and income taxes, for the first quarter in 2013 was SR4,016K compared to a net income, before Zakat and income taxes, of SR1,869K for the first quarter in 2012, and compared to a net income before Zakat and income taxes, of SR47,117K for the fourth quarter in 2012.
2. Net loss, after Zakat and income taxes, for the first quarter in 2013 was SR6,635K compared to a net loss, after Zakat and income taxes, of SR4,205K for the first quarter in 2012, representing an increase in loss of 58%, and compared to a net income after Zakat and income taxes, of SR48,117K for the fourth quarter in 2012.
3. The deficit from insurance operations, before policyholders investment income, for the first quarter in 2013 was SR17,735K, compared to deficit of SR7,808K for the first quarter in 2012, representing an increase in deficit of 127%.
4. Gross written premiums for the first quarter in 2013 were SR824,663K compared to SR811,870K for the first quarter in 2012, representing a 2% increase. Net written premiums for the first quarter in 2013 were SR824,077K compared to SR811,306K for the first quarter in 2012, representing a 2% increase.
5. The costs for net claims incurred for the first quarter in 2013 were SR461,790K compared to SR453,448K for the first quarter in 2012, representing a 2% increase.
(To be continued)
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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