On 2026-08-02 08:01:38 (Saudi Time), Bupa Arabia for Cooperative Insurance Co. announced its Interim financial results for the six months ended on June 30, 2026.

Year-on-Year Performance Drivers

For the six-month period ending 30 June 2026, insurance revenues grew 15.503% YoY to SAR 10,540.29 million (from SAR 9,125.48 million), principally driven by business growth, with Gross Written Premiums rising 11.77% to SAR 13,450.92 million. Net profit after zakat attributable to shareholders increased 4.139% YoY to SAR 694.08 million (from SAR 666.49 million), supported by a 4.276% rise in net insurance service results to SAR 605.08 million and an 11.185% increase in net investment results to SAR 412.26 million, as well as a 26.42% uplift in net other revenue to SAR 33.14 million. These gains were partially offset by a 17.20% increase in other operating expenses to SAR 236.44 million, reflecting higher expenditure to support business growth.

Quarter-on-Quarter Performance Drivers

QoQ, insurance revenues edged up 1.14% to SAR 5,299.91 million (from SAR 5,240.38 million), driven by continued business growth, while net profit after zakat fell 20.79% to SAR 306.78 million (from SAR 387.30 million). The primary drag was a sharp 32.33% decline in net insurance service result to SAR 244.21 million (from SAR 360.87 million), principally driven by seasonal trends in claims utilization. These headwinds were partially offset by a 9.87% rise in net investment results to SAR 215.83 million and a 6.23% reduction in other operating expenses to SAR 114.42 million.

Other Items

The external auditor issued an unmodified conclusion on the interim condensed consolidated financial statements for the period ended 30 June 2026. As noted in the auditor's report, the consolidated financial statements for the year ended 31 December 2025 and the interim condensed consolidated financial statements for the period ended 30 June 2025 were respectively audited and reviewed by other joint auditors who expressed an unmodified opinion and review conclusion on 8 February 2026 and 7 August 2025, respectively. No material risks, going concern uncertainties, or debt covenant breaches were flagged. Earnings per share for the current period stood at SAR 4.68 versus SAR 4.46 for the same period of the previous year, calculated by dividing net income attributable to shareholders after zakat and income tax of SAR 694,075K over a weighted average of 148,331K ordinary outstanding shares. Total shareholders' equity (excluding minority interest) as at the end of the current period was SAR 5,635,769K, compared to SAR 5,243,994K at the end of the same period of the previous year, an increase of 7.47%, while total equity reached SAR 5,624,462K versus SAR 5,247,523K, an increase of 7.18%. No reclassification of comparison items was made.

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