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For the year ended 31 December 2023 > Bupa Arabia for Cooperative Insurance Company (A Saudi Joint Stock Company)
| 2023 | Share capital SR ’000 |
Statutory reserve SR ’000 |
Share based payments reserve SR ’000 |
Shares held und er employees share scheme SR ’000 |
Retained earnings SR ’000 |
Re
-measurement reserve for end -of-service benefits SR ’000 |
Investments fair value reserve SR ’000 |
Total equity SR ’000 |
| Balance at 31 December 2022 (Restated) | 1,500,000 | 1,164,724 | 54,268 | (78,235) | 1,641,591 | (7,043) | (74,416) | 4,200,889 |
| Net income for the year attributed to shareholders after zakat and income tax |
– | – | – | – | 940,163 | – | – | 940,163 |
| Other comprehensive income/(loss) | – | – | – | – | – | (6,655) | 73,803 | 67,148 |
| Total comprehensive income/(loss) for the year | – | – | – | – | 940,163 | (6,655) | 73,803 | 1,007,311 |
| Transfer to statutory reserves | – | 188,033 | – | – | (188,033) | – | – | – |
| Provision for employees share scheme | – | – | 26,164 | – | – | – | – | 26,164 |
| Delivery of shares held under employees share scheme | – | – | (31,955) | 31,955 | – | – | – | – |
| Purchase of shares held under employees share scheme | – | – | – | (18,835) | – | – | – | (18,835) |
| Dividends (note 31) | – | – | – | – | (540,000) | – | – | (540,000) |
| Balance at 31 December 2023 | 1,500,000 | 1,352,757 | 48,477 | (65,115) | 1,853,721 | (13,698) | (613) | 4,675,529 |
| 2022 | Share capital SR ’000 |
Statutory reserve SR ’000 |
Share based payments reserve SR ’000 |
Shares held under employees share scheme SR ’000 |
Retained earnings SR ’000 |
Re-measurement reserve for end-of-service benefits SR ’000 |
Investments fair value reserve SR ’000 |
Total equity SR ’000 |
| Balance at 31 December 2021, as previously presented | 1,200,000 | 992,210 | 43,500 | (53,356) | 1,790,700 | (23,638) | 245,608 | 4,195,024 |
| Impact of adopting IFRS 17 | – | – | – | – | (34,335) | – | – | (34,335) |
| Impact of adopting IFRS 9 | – | – | – | – | 24,192 | – | (24,910) | (718) |
| *Restated balance at 1 January 2022 | 1,200,000 | 992,210 | 43,500 | (53,356) | 1,780,557 | (23,638) | 220,698 | 4,159,971 |
| Net income for the year attributed to shareholders after zakat and income tax |
– | – | – | – | 805,117 | – | – | 805,117 |
| Other comprehensive (loss)/income | – | – | – | – | – | 16,595 | (295,114) | (278,519) |
| Total comprehensive income/(loss) for the year | – | – | – | – | 805,117 | 16,595 | (295,114) | 526,598 |
| Transfer to statutory reserves | – | 172,514 | – | – | (172,514) | – | – | – |
| Provision for employees share scheme | – | – | 22,391 | – | – | – | – | 22,391 |
| Delivery of shares held under employees share scheme | – | – | (11,623) | 11,623 | – | – | – | – |
| Purchase of shares held under employees share scheme | – | – | – | (36,502) | – | – | – | (36,502) |
| Dividends (note 31) | – | – | – | – | (540,000) | – | – | (540,000) |
| Bonus share issued | 300,000 | – | – | – | (300,000) | – | – | – |
| Income tax refundable from non-Saudi shareholders | – | – | – | – | 68,431 | – | – | 68,431 |
| Balance at 31 December 2022 (Restated) | 1,500,000 | 1,164,724 | 54,268 | (78,235) | 1,641,591 | (7,043) | (74,416) | 4,200,889 |
*Comparative information has been restated (refer note 4).
Loay Hisham Nazer
Chairman
Tal Hisham Nazer
Director and Chief Executive Officer
Hatim Tariq Jamal
Chief Financial Officer
The accompanying notes 1 to 35 form an integral part of these consolidated financial statements.