For the year ended 31 December 2021
Bupa Arabia for Cooperative Insurance Company (A Saudi Joint Stock Company)
| Related to shareholders’ operations | ||||||||||
| 2021 | Share capital SR ’000 |
Statutory reserve SR ’000 |
Share- based payments SR ’000 |
Shares held under employees share scheme SR ’000 |
Retained earnings SR ’000 |
Remeasurement reserve of employees’ EOSB SR ’000 |
Investments fair value reserve – related to shareholders’ operations SR ’000 |
Total shareholders’ operations equity SR ’000 |
Investments fair value reserve – related to policyholders operations SR ’000 |
Total equity SR ’000 |
| Balance at 1 January 2021 |
1,200,000 | 867,096 | 32,800 | (48,779) | 1,684,003 | (31,173) | 174,848 | 3,878,795 | 24,058 | 3,902,853 |
| Total comprehensive income for the year | ||||||||||
| Net income for the year attributed to shareholders after Zakat and income tax | – | – | – | – | 625,570 | – | – | 625,570 | – | 625,570 |
| Re-measurement gains on employees’ EOSB | – | – | – | – | – | 7,535 | – | 7,535 | – | 7,535 |
| Changes in fair value of available-for-sale investments | – | – | – | – | – | – | 61,785 | 61,785 | (15,083) | 46,702 |
| Total comprehensive income for the year | – | – | – | – | 625,570 | 7,535 | 61,785 | 694,890 | (15,083) | 679,807 |
|
Transfer to statutory reserves |
– | 125,114 | – | – | (125,114) | – | – | – | – | – |
| Share based payment transactions | – | – | 20,386 | – | – | – | – | 20,386 | – | 20,386 |
|
Delivery of shares under LTIP |
– | – | (9,686) | 9,686 | – | – | – | – | – | – |
| Purchase of shares under LTIP | – | – | – | (14,263) | – | – | – | (14,263) | – | (14,263) |
| Dividends (Note 39) | – | – | – | – | (408,000) | – | – | (408,000) | – | (408,000) |
| Income tax from non-Saudi shareholders | – | – | – | – | 14,241 | – | – | 14,241 | – | 14,241 |
| Balance at 31 December 2021 |
1,200,000 | 992,210 | 43,500 | (53,356) | 1,790,700 | (23,638) | 236,633 | 4,186,049 | 8,975 | 4,195,024 |
| Related to shareholders’ operations | ||||||||||
| 2020 |
Share capital SR ’000 |
Statutory reserve SR ’000 |
Share- based payments SR ’000 |
Shares held under employees share scheme SR ’000 |
Retained earnings SR ’000 |
Remeasurement reserve of employees’ EOSB SR ’000 |
Investments fair value reserve – related to shareholders’ operations SR ’000 |
Total shareholders’ operations equity SR ’000 |
Investments fair value reserve – related to policyholders operations SR ’000 |
Total equity SR ’000 |
| Balance at 31 December 2020 |
1,200,000 | 727,871 | 25,525 | (57,538) | 1,128,973 | (10,473) | 18,035 | 3,032,393 | 12,504 | 3,044,897 |
| Total comprehensive income for the year | ||||||||||
|
Net income for the year attributed to shareholders after Zakat and income tax |
– | – | – | – | 696,128 | – | – | 696,128 | – | 696,128 |
| Re-measurement losses on employees’ EOSB | – | – | – | – | – | (20,700) | – | (20,700) | – | (20,700) |
| Changes in fair value of available-for-sale investments | – | – | – | – | – | – | 156,813 | 156,813 | 11,554 | 168,367 |
| Total comprehensive income for the year | – | – | – | – | 696,128 | (20,700) | 156,813 | 832,241 | 11,554 | 843,795 |
|
Transfer to statutory reserves |
– | 139,225 | – | – | (139,225) | – | – | – | – | – |
| Share based payment transactions | – | – | 16,034 | – | – | – | – | 16,034 | – | 16,034 |
|
Delivery of shares under LTIP |
– | – | (8,759) | 8,759 | – | – | – | – | – | – |
| Income tax recoverable (to)/from non-Saudi shareholders | – | – | – | – | (1,873) | – | – | (1,873) | – | (1,873) |
| Balance at 31 December 2020 |
1,200,000 | 867,096 | 32,800 | (48,779) | 1,684,003 | (31,173) | 174,848 | 3,878,795 | 24,058 | 3,902,853 |
Chairman
Director and Chief Executive Officer
Director and Chief Financial Officer
The accompanying Notes 1 to 40 form an integral part of these Financial Statements.