Consolidated Statement of Financial Position

As at 31 December 2023 > Bupa Arabia for Cooperative Insurance Company (A Saudi Joint Stock Company)

	Notes	31 December 2023 SR ’000	31 December 2022 Restated* SR ’000	1 January 2022 Restated* SR ’000
Assets
Cash and cash equivalents	6	1,255,896	1,287,961	960,585
Reinsurance contract assets	7.2	74,090	28,155	59,112
Prepaid expenses and other assets	12	475,475	410,519	284,093
Term deposits	9	7,223,011	6,406,848	3,093,163
Financial assets at amortised cost – net	8	587,360	526,188	333,566
Financial assets at fair value	8	4,246,757	2,852,234	5,372,523
Fixtures, furniture and equipment – net	10.1	69,879	63,643	69,771
Deferred tax asset	22	38,609	40,511	39,829
Due from related parties	21	–	3,316	–
Right-of-use assets – net	10.2	143,388	165,947	112,616
Intangible assets – net	11	67,236	65,413	67,277
Statutory deposit – net	13	149,960	149,961	119,978
Accrued income on statutory deposit	13	8,690	16,235	14,885
Goodwill	5	98,000	98,000	98,000
Total assets		14,438,351	12,114,931	10,625,398
Liabilities
Accrued and other liabilities	16.1	734,859	530,715	302,520
Insurance contract liabilities	7.1	8,267,196	6,699,185	5,594,345
Reinsurance contract liabilities	7.2	–	2,605	25,397
Lease liability	16.2	166,066	184,682	125,333
Due to related parties	21	40,935	–	14,051
Provision for end-of-service benefits	18	186,487	154,054	152,286
Provision for zakat and income tax	22	358,589	326,566	236,610
Accrued income payable to Insurance Authority	13	8,690	16,235	14,885
Total Liabilities		9,762,822	7,914,042	6,465,427
Equity
Share capital	23	1,500,000	1,500,000	1,200,000
Statutory reserve	24	1,352,757	1,164,724	992,210
Share based payments reserve	25	48,477	54,268	43,500
Shares held under employees share scheme	25	(65,115)	(78,235)	(53,356)
Retained earnings		1,853,721	1,641,591	1,780,557
Re-measurement reserve for end-of-service benefits		(13,698)	(7,043)	(23,638)
Investments fair value reserve		(613)	(74,416)	220,698
Total equity		4,675,529	4,200,889	4,159,971
Total liabilities and equity		14,438,351	12,114,931	10,625,398

*Comparative information has been restated (refer note 4).

The accompanying notes 1 to 35 form an integral part of these consolidated financial statements.