The Clap Bupa Arabia’s profits fell by 10.9% in Q2-2022 for insurance company Bupa Arabia.
The Deets The company explained that the decline in its profits is due to an increase in net claims compared to Q2-2021. Because of the Coronavirus shutdown, claims had been at an exceptionally low level.
Net claims rose by 534.32 million riyals compared to Q2-2021, a year-over-year increase of 26.1%.
Why this Matters Bupa Arabia reported an increase in its operating expenses, which reached 22.14 million riyals.
This amounts to a year-over-year increase of 13.7%.