Bupa Arabia for Cooperative Insurance announces its financial results for the twelve months ended 31st December 2010, as detailed below:

1.Net profit for shareholders for the twelve months ended 31st December 2010 was SR70,798k compared to a net profit for shareholders of SR56,020k for the twenty months ended 31st December 2009, representing a 26% increase.

2.Profit per share for the twelve months ended 31st December 2010 was 1.77 compared to a profit per share of 1.40 for the twenty months ended 31st December 2009.

3.The surplus from insurance operations, before investment income, for the twelve months ended 31st December 2010 was SR77,298k compared to a surplus from insurance operations, before investment income, of SR56,862k for the twenty months ended 31st December 2009, representing a 36% increase.

4.Gross written premiums for the twelve months ended 31st December 2010 were SR1,749,390k compared to SR1,347,337k for the twenty months ended 31st December 2009, representing a 30% increase. Net written premiums for the twelve months ended 31st December 2010 were SR1,746,210k compared to SR1,347,248k for the twenty months ended 31st December 2009, representing a 30% increase.

5.The costs for net claims incurred for the twelve months ended 31st December 2010 were SR1,308,103k compared to SR973,422k for the twenty months ended 31st December 2009, representing a 34% increase.

6.Net investment income from insurance operations for the twelve months ended 31st December 2010 was SR3,820k compared to SR2,660k for the twenty months ended 31st December 2009, representing a 44% increase. Net investment income of shareholders for the twelve months ended 31st December 2010 was SR4,067k compared to SR15,418k for the twenty months ended 31st December 2009, representing a 74% decrease.

7.The profit for the twelve month period ended 31st December 2010 increased compared to the previous year due mainly to an increase in the net underwriting result of 30%.

8.The joint independent auditors report on the financial statements mentions that the financial statements have been prepared in accordance with International Financial Reporting Standards and not in accordance with the accounting standards generally accepted in the Kingdom of Saudi Arabia. However the company assures that there are no significant differences in the results contained within the financial statements due to using International Financial Reporting Standards rather than the accounting standards generally accepted in the Kingdom of Saudi Arabia.