Hatim Jamal, CFO, Bupa Arabia
Bupa Arabia for Cooperative Insurance Co. has invested heavily in developing actuarial capabilities and pricing to deal with inflation, which has had a positive impact on its insurance margin during 2024, said CFO Hatim Jamal. 
He told Argaam that the company’s portfolio hit a lifetime level at the end of the year, and it is still profitable and sustainable, without having any loss components.
As for the insurer’s financial performance, the official said that despite the decline in profit in Q4 2024, all other financial indicators showed an improvement year-on-year.
According to Jamal, comparing quarterly results on an annual basis does not reflect the full picture of overall performance, due to the seasonal and cyclical nature of inflation, in addition to changes in the number of insured persons, which affects claims between different periods.
He added that Bupa Arabia relies on a 12-month moving average to evaluate its performance, which has shown a significant improvement compared to last year, reflecting the positive trend of the company’s operations and strategic initiatives.
The company is continuing with its strategy to diversify its customer base and boost its market share by attracting customers from various sectors. The insurance market is also continuing with its positive performance, backed by the favorable interest rate environment, in addition to the effective role played by the Insurance Authority in developing the sector, according to the CFO.
Hatim Jamal, CFO, Bupa Arabia
Bupa Arabia for Cooperative Insurance Co. has invested heavily in developing actuarial capabilities and pricing to deal with inflation, which has had a positive impact on its insurance margin during 2024, said CFO Hatim Jamal.
He told Argaam that the company’s portfolio hit a lifetime level at the end of the year, and it is still profitable and sustainable, without having any loss components.
As for the insurer’s financial performance, the official said that despite the decline in profit in Q4 2024, all other financial indicators showed an improvement year-on-year.
According to Jamal, comparing quarterly results on an annual basis does not reflect the full picture of overall performance, due to the seasonal and cyclical nature of inflation, in addition to changes in the number of insured persons, which affects claims between different periods.
He added that Bupa Arabia relies on a 12-month moving average to evaluate its performance, which has shown a significant improvement compared to last year, reflecting the positive trend of the company’s operations and strategic initiatives.
The company is continuing with its strategy to diversify its customer base and boost its market share by attracting customers from various sectors. The insurance market is also continuing with its positive performance, backed by the favorable interest rate environment, in addition to the effective role played by the Insurance Authority in developing the sector, according to the CFO.
