Consolidated Statement of Income

For the year ended 31 December 2023 > Bupa Arabia for Cooperative Insurance Company (A Saudi Joint Stock Company)

	Notes	2023 SR ’000	2022 Restated* SR ’000
Insurance revenue	7.1	15,887,715	12,873,111
Insurance service expense	7.1	(14,994,432)	(12,206,033)
Net expenses from reinsurance contracts held	7.2	(28,246)	(29,450)
Net insurance service result		865,037	637,628
Investment income on financial assets at amortised cost	8	350,636	167,197
Investment income on financial assets at fair value	8	163,425	386,622
Net impairment loss on financial assets		(785)	(1,685)
Net insurance and investment results		1,378,313	1,189,762
Other operating expenses	26	(316,813)	(246,854)
Other revenue		92,065	42,633
Other cost		(36,886)	(16,378)
Income attributed to the shareholders before zakat and income tax		1,116,679	969,163
Zakat charge	22	(80,237)	(72,938)
Income tax charge	22	(96,279)	(91,108)
Net income attributed to the shareholders after zakat and income tax		940,163	805,117
Basic and diluted earnings per share (expressed in SAR per share)	28	6.29	5.39

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

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