LONDON - The British United Provident Association Limited (Bupa) has reported significant growth in its customer base and profitability for the fiscal year ended December 31, 2024. The international healthcare company, which serves over 60 million customers, saw its total customer numbers rise to 60.5 million from 50.0 million in the previous year. Bupa's revenue rose by 16% to £16.9 billion, driven by strong customer growth and higher investment returns. Underlying profit before taxation also surged by 59% to £914 million. The company's statutory profit before taxation followed suit, increasing by 72% to £972 million. The healthcare provider's financial position remains solid, with a Solvency II capital coverage ratio of 176%, reflecting a slight increase from 175% in 2023. Bupa's leverage ratio, excluding IFRS 16 lease liabilities, improved to 16.0% from 20.1%. Bupa Asia Pacific was a standout performer, with revenue increasing by 13% to £6.3 billion and underlying profit by 201% to £446 million.