Bupa Arabia for Cooperative Insurance announces its financial results for the period ending 31/12/2009, as detailed below:

1.Net profit for shareholders for the fourth quarter was SR24,487 with no comparison available for the fourth quarter in 2008 (as Bupa Arabia was not trading) and compared to a net income of SR37,290k for the third quarter in 2009, representing a 34% reduction.

2.The surplus from insurance operations, before investment income, for the fourth quarter was SR29,950k, with no comparison available for the same period in 2008.

3.Gross written premiums for the fourth quarter were SR227,955k with no comparison available for the same period in 2008. Net written premiums for the fourth quarter were SR227,955k with no comparison available for the same period in 2008.

4.The costs for claims incurred for the fourth quarter were SR274,106k with no comparison available for the same period in 2008.

5.Net investment income from insurance operations for the fourth quarter was SR263k with no comparison available for the same period in 2008. Net investment income of shareholders for the fourth quarter was SR943k with no comparison available for the same period in 2008.

6.Net profit for shareholders for the twelve months to 31st December 2009 was SR58,239k with no comparison available for the same period in 2008 (as Bupa Arabia was not trading).

7.Profit per share for the twelve months to 31st December 2009 was SR1.46 with no comparison available for the same period in 2008.

8.The surplus from insurance operations, before investment income, for the twelve months to 31st December was SR65,381k, with no comparison available for the same period in 2008.

9.Gross written premiums for the twelve months to 31st December 2009were SR1,347,337k with no comparison available for the same period in 2008. Net written premiums for the twelve months to 31st December 2009 were SR1,347,337k with no comparison available for the same period in 2008.

10.The costs for claims incurred for the twelve months to 31st December 2009 were SR975,418k with no comparison available for the same period in 2008.

11.Net investment income from insurance operations for the twelve months to 31st December 2009 was SR2,412k with no comparison available for the same period in 2008. Net investment income of shareholders operations for the twelve months to 31st December 2009 was SR5,878k with no comparison available for the same period in 2008.

12.The decline in results in the fourth quarter of 2009 compared to the third quarter of 2009 is due to increased claims incurred.

13.No comparison is available between the twelve months of 2009 and the twelve months of 2008 as Bupa Arabia was not trading in 2008. The company started trading upon receiving approval from SAMA to transfer the book from Bupa Middle East (Bahrain) to Bupa Arabia on 01/01/2009.

14.The joint auditors interim review report on the financial statements mentions that the financial statements have been prepared in accordance with International Accounting Standard 34 and not the SOCPA accounting standards. However the company assures that there are no significant differences in the results contained within the financial statements due to using International Accounting Standards rather than the SOCPA accounting standards.