Niva Bupa Health Insurance Company share price
NSE: NIVABUPABSE: 544286InsuranceSmall Cap
Niva Bupa Health Insurance Company Limited · Face value ₹10 Face value. The nominal value of one share as the company issued it, the unit its share capital is counted in and a dividend can be stated as a percentage of; it has no link to the share price. Face value in the glossary · Listed Nov 2024 · Issue price ₹74
Last close ₹72.82up ₹0.04 (0.06%)BSE ₹73.46
Share price at the NSE close on 29 Oct 2026. Previous close ₹72.78.
29 Oct: open ₹72.78, high ₹74.85, low ₹71.02
52-week range of traded prices to 29 Oct 2026
₹67.50Low, 24 Mar 2026₹91.40High, 31 Jul 2026
- Next results date: the board meets on 4 Nov 2026 to consider: financial results. The notice · Results calendar
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹13,469 Cr441st largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- No recent results
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- No recent results
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- Nonein the last 12 months
- SolvencySolvency ratio. The capital the insurer holds ÷ the capital the regulator requires it to hold, as the insurer states it; insurers write it in different ways, so it is read as the one multiple between 1 and 5 it can be, and not given outside that. At the end of Mar 2026. For the company alone, not its group: the regulator measures it company by company. Solvency ratio in the glossary
- 2.49times the capital required
- Gross premiumGross premium. Premium on the policies sold and renewed in the period, before the part passed on to reinsurers: a general insurer's gross premiums written, a life insurer's gross premium income. For the year to Mar 2026. For the company alone, not its group: the regulator measures it company by company. Gross premium in the glossary
- ₹8,586 Cr
- Combined ratioCombined ratio. Claims plus expenses as a percentage of premium, as the general insurer states it, in per cent on the one scale its filing writes all its ratios in; not given where that scale cannot be told. For the year to Mar 2026. For the company alone, not its group: the regulator measures it company by company. Combined ratio in the glossary
- 103.39%
- Claims ratioClaims ratio. Claims incurred as a percentage of premium earned, as the general insurer states it, in per cent on the one scale its filing writes all its ratios in; not given where that scale cannot be told, or where the filing's own amounts show it written on another scale or rounded to the whole per cent. For the year to Mar 2026. For the company alone, not its group: the regulator measures it company by company. Claims ratio in the glossary
- 68.11%
- Expense ratioExpense ratio. The costs of running the insurance business, commission included, as a percentage of premium, as the insurer states it, in per cent on the one scale its filing writes all its ratios in; not given where that scale cannot be told, or where the filing's own amounts show it written on another scale or rounded to the whole per cent. For the year to Mar 2026. For the company alone, not its group: the regulator measures it company by company. Expense ratio in the glossary
- 33.70%
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 14,47,24178.8% delivered
About Niva Bupa Health Insurance Company
Niva Bupa Health Insurance Company Limited is a pure-play health insurer, with no motor, property or other general insurance, and serves customers in India alone.12 It sells health, personal accident, travel and corporate insurance to individual policyholders and to institutional and corporate customers.34 Its registered office is in New Delhi and its corporate office in Gurugram, Haryana.56
It was incorporated in 2008.5 It began as a joint venture between Max India and the Bupa Group and was rebranded Niva Bupa Health Insurance after Max India's exit.7 In the year to Mar 2025 it made an initial public offering (IPO) of ₹2,200 crore and listed its shares on NSE and BSE.8 Its health plans include ReAssure 3.0, Health Premia, Aspire for millennials and Gen Z, Rise for buyers who find private health insurance unaffordable, and Senior First for senior citizens.91011
Its promoters are Bupa Singapore Holdings Pte Ltd and Bupa Investments Overseas Limited, members of the Bupa Group, an international healthcare organisation founded in 1947.12 Bupa Singapore Holdings Pte Ltd, its holding company, owned 55.36% of its shares at Mar 2026.13
Niva Bupa Health Insurance Company key points
Results
- In the quarter to Jun 2026, gross written premium (premiums on policies written) was ₹2,150 crore, up 31.7% with long-term policies counted one year at a time; on what the company calls a like-to-like basis, it grew 23.0%.1415
- In the quarter to Jun 2026, the first under Indian Accounting Standards (Ind AS), insurance revenue was ₹2,273.7 crore and profit after tax ₹137.8 crore against ₹71.4 crore a year earlier; the combined insurance service ratio (claims and costs over revenue) was 100.2% against 103.2%.1617
- In the year to Mar 2026, gross written premium with long-term policies counted in full rose 27.4% to ₹9,432.9 crore, and insurance revenue (premium earned after reinsurance adjustments, under IFRS) rose 34.1% to ₹7,829.1 crore.1819
- Profit after tax for the year to Mar 2026 was ₹366.1 crore under IFRS, the international accounting standard, up 80.4%; under Indian GAAP (I-GAAP), the older Indian accounting basis, it was ₹130.8 crore.2021
Market position
- The company's share of India's retail health insurance market was 11.1% in the quarter to Jun 2026, against 10.0% a year earlier.22
Revenue mix
- Share of gross written premium by business, with long-term policies counted one year at a time232425
Item year to Mar 2026 year to Mar 2025 Retail health 66.9% 65.5% Group health (employee benefit policies for companies) 31.6% – Personal accident and travel 1.4% 2.2% - Share of gross written premium by sales channel, on the same basis262725
Item year to Mar 2026 Individual agents 30.2% Brokers, including Policybazaar 29.5% Banks acting as corporate agents 19.5% Other corporate agents 10.4% Direct sales 9.7% Others 0.6%
Branches and reach
- At the end of June 2026 it had 210 branches, 2,51,834 individual agents, 134 bank and other corporate agents, 603 brokers and 10,583 employees.28
- At Mar 2026 the company insured 25.2 million active lives and had a network of 10,566 hospitals.29
- Its Preferred Partner Network, hospitals that agree to standard treatment packages and billing, grew to 1,116 hospitals in 49 cities at Mar 2026, from 589 hospitals in 40 cities a year earlier.30
Investments and solvency
- Assets under management (investments held) were ₹9,963 crore at book value and over ₹10,000 crore at market value at the end of June 2026; the quarter's annualised investment yield was 7.2%, before mark-to-market gains on exchange-traded funds.31
- The solvency ratio (capital held against the capital the regulator requires) was 2.25 times at 30 Jun 2026, against a regulatory minimum of 1.50.31
What the company expects
- On its earnings call of 30 Jul 2026, the company said it expects to keep growing retail health premium 8 to 10 percentage points faster than the market.32
- On its earnings call of 30 Jul 2026, the company said its internal aim for the retail and group health mix is about 70% retail and about 30% group.32
- On its earnings call of 30 Jul 2026, the company said return on equity (profit over shareholders' funds) was 11.8% over the last 4 quarters and that it targets the mid to high teens by the year to Mar 2029.33
- On its earnings call of 30 Jul 2026, the company said its expense of management ratio (operating costs and commissions over gross written premium) was 35.2% in the quarter to Jun 2026, against 38%, and expects it to settle at 32% to 33%.3435
Recent events
- On 15 Oct 2026, India Ratings rated the company's proposed subordinated debentures (bonds repaid after other lenders) IND AAA with a stable outlook (no rating change expected soon); they are yet to be issued.36
- On 17 Sep 2026, AM Best assigned the company a long-term issuer credit rating of a- and an India national scale rating of aaa.IN, both with a stable outlook.37
- On 30 Jul 2026, the board approved raising up to ₹500 crore through subordinated debentures in one or more tranches, by private placement.3839
Litigation and regulatory matters
- On 19 Aug 2026, the insurance regulator IRDAI warned the company for exceeding expense of management limits in the year to Mar 2025 and directed it not to open new places of business for 6 months from the order date.40
- In its exchange filing of 20 Aug 2026, the company said it was evaluating the order and met the expense of management rules for the year to Mar 2026 and the quarter to Jun 2026; its documents give no later outcome.40
- On 14 Mar 2026, the Assistant Commissioner of Income Tax in Mumbai raised a demand of ₹28,37,45,380, including interest of ₹7,10,47,664, for assessment year 2023-24, disallowing some marketing expenses and claims reserves.4142
- In its exchange filing of 15 Mar 2026, the company said the disallowances relate mainly to industry-wide issues and that it would appeal; its documents give no later outcome.43
Last updated
All 43 sources, each with its page
- 1. Annual report, 17 Jul 2026, page 81
- 2. Annual report, 17 Jul 2026, page 278
- 3. Annual report, 17 Jul 2026, page 151
- 4. Annual report, 17 Jul 2026, page 152
- 5. Annual report, 17 Jul 2026, page 2
- 6. Annual report, 17 Jul 2026, page 1
- 7. Annual report, 17 Jul 2026, page 44
- 8. Annual report, 17 Jul 2026, page 44
- 9. Annual report, 17 Jul 2026, page 62
- 10. Annual report, 17 Jul 2026, page 63
- 11. Annual report, 17 Jul 2026, page 48
- 12. Annual report, 17 Jul 2026, page 38
- 13. Annual report, 17 Jul 2026, page 153
- 14. Investor presentation, 30 Jul 2026, page 5
- 15. Earnings call, 30 Jul 2026, page 4
- 16. Investor presentation, 30 Jul 2026, page 5
- 17. Investor presentation, 30 Jul 2026, page 25
- 18. Annual report, 17 Jul 2026, page 35
- 19. Annual report, 17 Jul 2026, page 85
- 20. Annual report, 17 Jul 2026, page 36
- 21. Annual report, 17 Jul 2026, page 87
- 22. Investor presentation, 30 Jul 2026, page 5
- 23. Annual report, 17 Jul 2026, page 81
- 24. Annual report, 17 Jul 2026, page 83
- 25. Annual report, 17 Jul 2026, page 47
- 26. Annual report, 17 Jul 2026, page 87
- 27. Annual report, 17 Jul 2026, page 88
- 28. Investor presentation, 30 Jul 2026, page 15
- 29. Annual report, 17 Jul 2026, page 81
- 30. Annual report, 17 Jul 2026, page 88
- 31. Earnings call, 30 Jul 2026, page 5
- 32. Earnings call, 30 Jul 2026, page 7
- 33. Earnings call, 30 Jul 2026, page 13
- 34. Earnings call, 30 Jul 2026, page 5
- 35. Earnings call, 30 Jul 2026, page 13
- 36. Exchange filing, 15 Oct 2026, page 1
- 37. Exchange filing, 17 Sep 2026, page 2
- 38. Exchange filing, 30 Jul 2026, page 1
- 39. Earnings call, 30 Jul 2026, page 5
- 40. Exchange filing, 20 Aug 2026, page 1
- 41. Exchange filing, 15 Mar 2026, page 1
- 42. Exchange filing, 15 Mar 2026, page 2
- 43. Exchange filing, 15 Mar 2026, page 2
Results
Standalone; ₹ crore. Gross premium is what policyholders paid in the period, before the part passed on to reinsurers.Niva Bupa Health Insurance Company quarterly results
Quarter to Mar 2026, against the quarter before
- Gross premium
- ₹2,880 Cr
- Net profitNet profit. Under it, net profit in the quarter before. A change in per cent is not worked out where either period is a loss or nothing. Net profit in the glossary
- ₹345 CrQuarter to Dec 2025: −₹88 Cr
Gross premium by quarter
Peak gross premium ₹2,880 Cr, quarter to Mar 2026; lowest ₹1,632 Cr, quarter to Jun 2025
Net profit by quarter, a loss in red
- Net profit
- Loss
Back to profit in the quarter to Mar 2026, ₹345 CrA loss in 3 of the 5 quarters shown
| ₹ crore | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Gross premium | 2,079 | 1,632 | 1,843 | 2,231 | 2,880 |
| Net profit | 206 | −91 | −35 | −88 | 345 |
Standalone. The 5 quarters from Mar 2025, the first on record. The latest is shaded.
Year to Mar 2026, against the year before
- Gross premium
- ₹8,586 Cr
- Net profitNet profit. The pill is the change in net profit against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹131 Crdown 38.75%
Gross premium by year
Peak gross premium ₹8,586 Cr, year to Mar 2026; lowest ₹6,762 Cr, year to Mar 2025
Net profit by year, a loss in red
| ₹ crore | Mar 2025 | Mar 2026 |
|---|---|---|
| Gross premium | 6,762 | 8,586 |
| Net profit | 214 | 131 |
Standalone. Years to March. The latest is shaded.
Business segments
One segment, Health including personal accident, carries all the revenue in the year to Mar 2026.
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | −10.1% | −39.4% | +48.5% | 0.0% |
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth over 1 year is on profit divided by shares in issue at both ends: the earnings per share stated for one end does not match that year's profit and share count.
Mutual fund holdings
29 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 7 of the 11 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 2 more funds filed their first portfolio on record, holding it.All 29 funds holding Niva Bupa Health Insurance Company
- Bought for the first timeBought for the first time. Funds that held it at the month's end and had not held it in any month on record before.
- 5
- AddedAdded. Funds that held more shares than at the end of the month before.
- 9
- CutCut. Funds that held fewer shares than at the end of the month before.
- 2
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 11
- Sold outSold out. Funds that held it at the end of the month before and hold none at this month's end. Sold out in the glossary
- 32
| Fund | |||
|---|---|---|---|
 Nippon India Multi Cap FundNippon India Mutual Fund | 5,10,51,619 | 0.71% | ₹381.9 Cr |
 Axis Small Cap FundAxis Mutual Fund | 2,58,12,627 | 0.63% | ₹193.1 Cr |
 DSP Small Cap FundDSP Mutual Fund | 1,75,25,050 | 0.61% | ₹131.1 Cr |
 SBI ELSS Tax Saver FundSBI Mutual Fund | 1,60,98,757 | 0.40% | ₹120.4 Cr |
 Tata Balanced Advantage FundTata Mutual Fund | 1,24,59,774 | 1.16% | ₹93.2 Cr |
| Tata Multi Asset Allocation FundTata Mutual Fund | 92,70,756 | 1.39% | ₹69.4 Cr |
| SBI Banking & Financial Services FundSBI Mutual Fund | 91,00,000 | 0.65% | ₹68.1 Cr |
| Tata Business Cycle FundTata Mutual Fund | 77,71,148 | 2.41% | ₹58.1 Cr |
| DSP Flexi Cap FundDSP Mutual Fund | 63,08,832 | 0.40% | ₹47.2 Cr |
 Bajaj Finserv Small Cap FundBajaj Finserv Mutual Fund | 38,73,542 | 1.05% | ₹29.0 Cr |
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.
Promoter and insider buying and selling
Trades made since 29 Oct 2025.Niva Bupa Health Insurance Company insider trading
No promoter, director, key manager or employee bought or sold on the market.
- Others: no market trade · 2 pledge filings of unclear kind
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.
Niva Bupa Health Insurance Company competitors and peers
Insurance, 13 listed companies, priced on 29 Oct 2026. The table lists the 8 companies closest to Niva Bupa Health Insurance Company in market cap.Finance companies
Niva Bupa Health Insurance Company is not on the chart: it has no P/E or return on equity today
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
 ICICI Life InsuranceICICILIFE | 59,783 | 33.98 | 4.09 | +15.2% | +34.0% | 12.9% | – | 0.40% |
 General Insurance Corporation of IndiaGICRE | 56,544 | 6.35 | 0.93 | +4.3% | +4.0% | 15.8% | – | 4.11% |
 Max Financial ServicesMFSL | 41,828 | – | 7.31 | +17.6% | – | – | 4.1% | 0.00% |
 Star Health and Allied Insurance CompanySTARHEALTH | 31,338 | 29.73 | 4.13 | – | +97.7% | 14.4% | – | 0.00% |
 The New India Assurance CompanyNIACL | 27,462 | 38.29 | 1.12 | +10.5% | −36.6% | 3.0% | – | 0.90% |
 Go Digit General InsuranceGODIGIT | 24,461 | 49.68 | 5.17 | +8.3% | +6.6% | 11.0% | – | 0.00% |
 Canara HSBC Life Insurance CompanyCANHLIFE | 11,831 | 88.58 | 7.22 | – | – | 8.4% | – | 0.32% |
 Medi Assist Healthcare ServicesMEDIASSIST | 2,225 | 23.87 | 2.65 | +27.4% | −1.3% | 13.5% | 11.2% | 0.67% |
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record; for ROCE and EV/EBITDA, where the company is a lender or an insurer. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page. Income growth is the growth of everything the company earns: interest, fees, premiums and the rest.
Latest announcements
Routine notices left out.Niva Bupa Health Insurance Company announcements
Oct 2026
28 Oct · Analysts
15 Oct · Rating
15 Oct · General Updates
9 Oct · Committee Meeting Updates
Niva Bupa Health Insurance Company annual report, year to Mar 2026
Niva Bupa Health Insurance Company share price by year
Each calendar year to 2025.Niva Bupa Health Insurance Company share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 75.40 | −10.4% | 92.35 | 70.84 |
| 2024 | 84.11 | – | 100.00 | 72.57 |
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before. 2024 is from its first session, 14 Nov 2024.
Recent sessions
The 9 trading days to 28 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 28 Oct 2026 | 71.01 | 73.25 | 70.40 | 72.78 | 71.91 | 11,74,687 | 57.1% |
| 27 Oct 2026 | 72.00 | 72.43 | 70.75 | 71.54 | 71.71 | 9,02,350 | 59.0% |
| 26 Oct 2026 | 71.88 | 72.90 | 70.26 | 70.88 | 70.67 | 15,85,859 | 60.4% |
| 23 Oct 2026 | 71.91 | 72.36 | 70.50 | 71.93 | 71.72 | 11,43,439 | 63.5% |
| 22 Oct 2026 | 73.30 | 73.30 | 71.36 | 71.91 | 71.94 | 18,56,677 | 68.7% |
| 21 Oct 2026 | 76.35 | 76.46 | 72.60 | 73.53 | 73.74 | 17,21,911 | 68.6% |
| 19 Oct 2026 | 75.96 | 78.00 | 74.70 | 76.28 | 75.87 | 5,55,803 | 57.1% |
| 16 Oct 2026 | 76.04 | 77.10 | 74.55 | 75.96 | 76.34 | 31,08,497 | 80.6% |
| 15 Oct 2026 | 77.50 | 77.81 | 75.57 | 76.01 | 76.42 | 6,42,097 | 58.9% |
Prices in ₹ per share as traded, not adjusted.
Company details
- NSE symbol
- NIVABUPA
- BSE code
- 544286
- ISIN
- INE995S01015
- Industry
- Insurance
- Website
- www.nivabupa.com
- CIN
- L66000DL2008PLC182918
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 2008
- Registered office
- C-98, 1st Floor, Lajpat Nagar , Part 1, South Delhi, New Delhi 110024
- Share registrar
- KFin Technologies Ltd
- Keeps the register of shareholders and handles transfers and dividend payments