# NIVABUPA (NIVABUPA) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/nivabupa

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹79.61
- Change: +0.01%
- As of: 2026-09-18
- 1D return: -0.01%
- 5D return: +0.21%
- 1M return: -3.97%
- Latest complete quarter: fy26_q4

## Faxioms Analysis

_As of 2026-09-18_

### Technical Outlook

As of September 18, 2026, NIVABUPA's technical stance is mixed across timeframes, with a bearish signal on the daily and monthly charts contrasting with a bullish signal on the weekly chart. The current price of ₹79.59 is below its 20-day and 50-day moving averages on the daily timeframe, and below its 20-day moving average and supertrend indicator on the monthly timeframe. However, on the weekly chart, the price is above its 50-day simple moving average and its supertrend indicator, suggesting potential underlying strength. The stock has experienced a "Doji" pattern on the weekly timeframe on September 18, 2026, which can indicate indecision. Recent market activity shows 3 events in the last 30 days, with 1 downside event and 2 neutral events.

The nearest resistance is observed at ₹79.89, a pivot level approximately 0.38% above the current price. Support is found at ₹79.00, a recent low about 0.75% below the current price. Further support lies at ₹77.50. The stock exhibits an annualized volatility of 30% and a current drawdown of -14%. Key watch conditions include monitoring the price action around the ₹79.89 resistance and the ₹79.00 support levels. A sustained move above ₹79.89 could challenge higher resistance levels, while a break below ₹79.00 may lead to further declines towards ₹77.50.

- Current price on September 18, 2026: ₹79.59.
- Nearest resistance level: ₹79.89 (0.38% above current price).
- Nearest support level: ₹79.00 (-0.75% below current price).
- Weekly chart shows a bullish supertrend signal, while daily and monthly charts are bearish.
- Weekly "Doji" pattern on September 18, 2026, suggests potential indecision.

- Doji
- Inside Bar
- Bearish Engulfing Reversal
- Outside Bar

### News Context

In the seven-day period ending September 16, 2026, Niva Bupa Health Insurance Company was mentioned in two distinct contexts. On September 16, analyst Sumeet Bagadia included Niva Bupa Health Insurance Company among five "breakout stocks to buy" for the day. Separately, a report on September 13 highlighted a Mumbai consumer forum's decision in a case involving Max Bupa Health Insurance (a different entity, though related in the health insurance sector) where a ₹5 lakh health claim was initially rejected due to a waiting period for pancreatitis, but the forum later directed the insurer to pay the claim. This latter report, while not directly about Niva Bupa Health Insurance Company's operations, provides context on claim dispute resolutions within the broader health insurance industry in India.

- On September 16, 2026, Niva Bupa Health Insurance Company was identified as a "breakout stock to buy" by analyst Sumeet Bagadia.
- A September 13, 2026, report detailed a Mumbai consumer forum ruling that directed Max Bupa Health Insurance to pay a ₹5 lakh claim initially rejected over a pancreatitis waiting period, illustrating claim dispute outcomes in the health insurance sector.

- Stocks to buy: Colgate to Rossell Techsys -Sumeet Bagadia gives five breakout shares for Wednesday | 16 September
- ₹5 lakh health claim rejected over waiting period: Why Mumbai consumer forum backed policyholder | Mint

### What Changed

As of September 18, 2026, Niva Bupa Health Insurance Company (NSE: NIVABUPA) has experienced a minor price decrease from ₹79.6 on the previous day to ₹79.59. No new filings or news developments were reported on this date. The company's profile and exchange listing on NSE remain unchanged from prior context.

- On 2026-09-18, the stock price for Niva Bupa Health Insurance Company was ₹79.59, a slight decrease from ₹79.6 on the prior day.
- No new filings or news were reported for Niva Bupa Health Insurance Company on 2026-09-18.
- Niva Bupa Health Insurance Company is listed on the NSE.

### Official Filings

Niva Bupa Health Insurance Company Limited disclosed on September 17, 2026, that AM Best assigned the company a Financial Strength Rating of A-, a Long-Term Issuer Credit Rating of 'a-', and an India National Scale Rating of aaa.IN, all with a stable outlook. These ratings are supported by the company's strong balance sheet, adequate operating performance from fiscal years 2023-2026, and support from its parent, Bupa Group. The company's Best's Capital Adequacy Ratio was at the strongest level as of March 31, 2026, and its combined ratio improved to 102.0% in fiscal year 2026, with underwriting losses offset by investment returns.

Separately, on August 19, 2026, the Insurance Regulatory and Development Authority of India (IRDAI) issued a warning to Niva Bupa for non-compliance with Expense of Management (EoM) limits during the financial year 2024-25. As a consequence, the company is prohibited from opening new places of business for a six-month period, effective August 19, 2026, until February 18, 2027. The company stated it remains compliant with EoM regulations for the fiscal years ending March 31, 2026, and June 30, 2026.

In terms of capital, on August 26, 2026, the company approved the allotment of 411,000 equity shares to eligible grantees under its Employee Stock Option Plans (ESOPs) of 2020 and 2024. This issuance increased the company's paid-up share capital by approximately ₹4.11 million to ₹18,496,447,030, comprising 1,849,644,703 equity shares.

- On September 17, 2026, AM Best assigned Niva Bupa Health Insurance Company Limited ratings of A- (Financial Strength), 'a-' (Long-Term Issuer Credit), and aaa.IN (India National Scale), with a stable outlook.
- On August 19, 2026, the IRDAI warned Niva Bupa for non-compliance with Expense of Management limits for FY 2024-25 and prohibited opening new business locations for six months, until February 18, 2027.
- On August 26, 2026, Niva Bupa allotted 411,000 equity shares under ESOPs, increasing its paid-up share capital to ₹18,496,447,030.
- On August 20, 2026, ICRA reaffirmed Niva Bupa's issuer rating at [ICRA]AAA (Stable) and assigned [ICRA]AA+ (Stable) to proposed subordinated debt up to ₹500 crore.

- Niva Bupa Health Insurance Company Limited has informed the Exchange about Credit Rating |SUBJECT: Credit Rating
- Disclosure Under Regulation 51 |SUBJECT: Disclosure Under Regulation 51
- Niva Bupa Health Insurance Company Limited has informed the Exchange regarding change in Management of the Company w.e.f September 16, 2026 |SUBJECT: Appointment
- Niva Bupa Health Insurance Company Limited has informed the Exchange regarding change in Management of the Company w.e.f September 16, 2026 |SUBJECT: Cessation
- NIVA BUPA HEALTH INSURANCE COMPANY LIMITED has informed the Exchange regarding Allotment of Securities |SUBJECT: Alteration Of Capital and Fund Raising-XBRL
- Niva Bupa Health Insurance Company Limited has informed the Exchange regarding Allotment of 4,11,000 Equity Shares. |SUBJECT: ESOP/ESOS/ESPS
- Niva Bupa Health Insurance Company Limited has informed the Exchange about receipt of the Order from the Insurance Regulatory and Development Authority of India |SUBJECT: Action(s) taken or orders passed
- NIVA BUPA HEALTH INSURANCE COMPANY LIMITED has informed the Exchange about Action(s) taken or orders passed (sub-para 20) |SUBJECT: Actions initiated/taken or orders passed-XBRL
- Niva Bupa Health Insurance Company Limited has informed the Exchange about Credit Rating |SUBJECT: Credit Rating
- Updates |SUBJECT: Updates

### Fundamentals

Niva Bupa Health Insurance Company, trading on the NSE, has shown a consistent increase in its top-line performance across the reported quarters. Gross Premiums Written grew from ₹1,843.07 crore in Q2 FY2025-26 to ₹2,879.68 crore in Q4 FY2025-26. Net Premiums Written followed a similar upward trend, rising from ₹1,450.06 crore in Q2 FY2025-26 to ₹2,301.66 crore in Q4 FY2025-26. The company's Net Retention Ratio saw a slight improvement, moving from 0.7868 in Q2 FY2025-26 to 0.7993 in Q4 FY2025-26. Operating efficiency appears to be strengthening, as indicated by a declining Expenses of Management Ratio, which fell from 0.3889 in Q2 FY2025-26 to 0.2849 in Q4 FY2025-26. A significant improvement was observed in the Incurred Claim Ratio, which dropped from 0.712 in Q2 FY2025-26 to 0.5676 in Q4 FY2025-26. This combination of factors led to a notable reduction in the Combined Ratio, from 1.1172 in Q2 FY2025-26 to 0.8612 in Q4 FY2025-26, suggesting improved underwriting profitability.

- Gross Premiums Written increased from ₹1,843.07 crore in Q2 FY2025-26 to ₹2,879.68 crore in Q4 FY2025-26.
- Net Premiums Written rose from ₹1,450.06 crore in Q2 FY2025-26 to ₹2,301.66 crore in Q4 FY2025-26.
- The Net Retention Ratio improved from 0.7868 in Q2 FY2025-26 to 0.7993 in Q4 FY2025-26.
- Expenses of Management Ratio decreased from 0.3889 in Q2 FY2025-26 to 0.2849 in Q4 FY2025-26.
- The Incurred Claim Ratio fell from 0.712 in Q2 FY2025-26 to 0.5676 in Q4 FY2025-26, contributing to a Combined Ratio of 0.8612 in Q4 FY2025-26.

### Bull Case

The company's stock has shown positive returns over a six-month period, increasing by 0.11. While the daily and monthly technical trends are currently indicating a bearish sentiment, the weekly trend shows a bullish direction. The stock is trading near its immediate support level of ₹79.0, which is 0.75% below the current price of ₹79.59. Additionally, an external analyst has identified the stock as a potential breakout share.

- The stock has delivered a return of 0.11 over the past six months.
- The weekly technical trend is currently bullish.
- The stock is trading near a support level of ₹79.0.
- An external analyst has listed Niva Bupa Health Insurance Company as a breakout share.

- Stocks to buy: Colgate to Rossell Techsys -Sumeet Bagadia gives five breakout shares for Wednesday | 16 September
- ₹5 lakh health claim rejected over waiting period: Why Mumbai consumer forum backed policyholder | Mint

### Bear Case

The company's technical indicators suggest a cautious outlook. Daily and monthly trends are showing a bearish SuperTrend direction, with the daily EMA 20 slope at -0.71 and the monthly EMA 20 slope at -0.71, indicating a downward price momentum. The stock has also experienced a current drawdown of -14% and a maximum drawdown of -26%, highlighting recent price declines. Furthermore, a news report from Mint on September 16, 2026, highlighted a case where a ₹5 lakh health claim was rejected due to a waiting period, which could indicate potential customer dissatisfaction or operational challenges in claim processing.

- Daily and monthly SuperTrend indicators are in a bearish direction as of September 18, 2026.
- The stock has experienced a current drawdown of -14% and a maximum drawdown of -26%.
- A news report from September 16, 2026, cited a consumer forum ruling against an insurer for rejecting a ₹5 lakh health claim based on a waiting period.

- Stocks to buy: Colgate to Rossell Techsys -Sumeet Bagadia gives five breakout shares for Wednesday | 16 September
- ₹5 lakh health claim rejected over waiting period: Why Mumbai consumer forum backed policyholder | Mint

### FAQs

**What recent credit ratings has Niva Bupa Health Insurance received, and what do they signify?**

On September 17, 2026, AM Best assigned Niva Bupa Health Insurance Company Limited a Financial Strength Rating of A-, a Long-Term Issuer Credit Rating of 'a-', and an India National Scale Rating of aaa.IN, all with a stable outlook. These ratings reflect the company's very strong balance sheet strength and adequate operating performance over the fiscal years 2023-2026. The ratings also benefit from enhancements derived from its parent company, British United Provident Association Limited (Bupa Group). The company's capital adequacy ratio was at the strongest level as of March 31, 2026. While underwriting losses were offset by investment returns, the combined ratio improved to 102.0% in fiscal year 2026.

**Have there been any recent changes in Niva Bupa's management or capital structure?**

Yes, there have been recent changes. Effective September 16, 2026, Mr. Vikas Jain transitioned from Chief Investment Officer to Chief Transformation Officer, and Mr. Karan Bhatia was appointed as the new Chief Investment Officer. Additionally, on August 26, 2026, the company approved the allotment of 411,000 equity shares under its Employee Stock Option Plans, increasing its paid-up share capital and total number of shares.

**What is the current technical trend and recent price performance of Niva Bupa Health Insurance?**

As of September 18, 2026, the daily technical trend for Niva Bupa Health Insurance indicates a bearish SuperTrend direction with a value of 84.44, while the closing price was ₹79.59. The 200-day Simple Moving Average (SMA) was ₹79.43. In terms of recent performance, the stock has shown a return of 0.11 over the last six months and a year-to-date return of 0.06. However, it has experienced a current drawdown of -0.14 and a maximum drawdown of -0.26.

- Stocks to buy: Colgate to Rossell Techsys -Sumeet Bagadia gives five breakout shares for Wednesday | 16 September
- ₹5 lakh health claim rejected over waiting period: Why Mumbai consumer forum backed policyholder | Mint
- Niva Bupa Health Insurance Company Limited has informed the Exchange about Credit Rating |SUBJECT: Credit Rating
- Disclosure Under Regulation 51 |SUBJECT: Disclosure Under Regulation 51
- Niva Bupa Health Insurance Company Limited has informed the Exchange regarding change in Management of the Company w.e.f September 16, 2026 |SUBJECT: Appointment
- Niva Bupa Health Insurance Company Limited has informed the Exchange regarding change in Management of the Company w.e.f September 16, 2026 |SUBJECT: Cessation
- NIVA BUPA HEALTH INSURANCE COMPANY LIMITED has informed the Exchange regarding Allotment of Securities |SUBJECT: Alteration Of Capital and Fund Raising-XBRL
## Technical analytics

- As of: 2026-09-18
- Daily trend: Weak Downtrend
- Weekly trend: Weak Downtrend
- Pivot point: ₹79.89
- Risk regime: Price Risk Currently Contained

### Support levels
- 73.73625
- 73.20125
- 71.6

### Resistance levels
- 80.26553833007813
- 81.9121875
- 83.98224365234375

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | -0.01% |
| return_10 | -1.41% |
| return_1m | -4.96% |
| return_1y | -3.05% |
| return_20 | -3.97% |
| return_3m | -8.61% |
| return_5 | +0.21% |
| return_6m | +11.21% |
| return_since_start | -4.98% |
| return_ytd | +6.01% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | contained_risk |
| label | Price risk currently contained |
| summary | Recent drawdown and price variability remain within the producer's contained-risk thresholds. |
| maximum_drawdown | -25.93% |
| annualized_volatility | +30.39% |

## Quarterly financials

- Latest complete quarter: fy26_q4

# Underwriting Profitability Returns as Combined Ratio Falls Below 1

Following three quarters of underwriting and net losses, Niva Bupa achieved a return to underwriting profitability in the fourth quarter of FY2025-26. The combined ratio dropped to 0.8612 from above 1 in each of the prior three quarters, reflecting sharp declines in both the incurred claim ratio and the expenses of management ratio. This improvement, together with strong premium growth and higher investment income, produced a profit after tax of ₹345.13 crore, the highest in the fiscal year and significantly above the prior‑year quarter.

## Premium Growth and Retention

Gross premiums written reached ₹2,879.68 crore in Q4, up 29.1% from the previous quarter and 38.5% from the same quarter a year ago. Net premiums written rose at a similar pace, increasing 30.3% sequentially and 37.7% year‑over‑year to ₹2,301.66 crore.

The net retention ratio—net premiums written as a share of gross premiums written—remained broadly stable at 0.7993. This was slightly below the 0.8044 recorded a year earlier but marginally above the 0.7918 in Q3. Across the five quarters shown, the company retained roughly 80% of gross premiums.

## Underwriting Performance

The incurred claim ratio fell to 0.5676 from 0.723 in Q3, a decline of 21.5%, and was nearly identical to the 0.5641 reported in the prior‑year quarter. The expenses of management ratio also decreased, dropping to 0.2849 from 0.331 in Q3 and from 0.3633 a year ago—sequential and year‑over‑year reductions of 13.9% and 21.6% respectively.

The combined ratio improved to 0.8612 from 1.0819 in Q3 and from 0.9278 in the year‑ago quarter. This marks the first quarter in the fiscal year where the combined ratio fell below 1, indicating that earned premiums covered claims and expenses.

## Profitability

After losses of ₹91.44 crore, ₹35.27 crore and ₹87.64 crore in the first three quarters, the company reported a profit after tax of ₹345.13 crore in Q4. That was 67.5% higher than the ₹206.08 crore profit in Q4 of the previous fiscal. Basic and diluted earnings per share rose to ₹1.87 from a loss of ₹0.47 in Q3 and from ₹1.13 a year earlier.

Net investment income increased 46.1% sequentially and 39.1% year‑over‑year to ₹130.47 crore, further boosting profits. Operating income grew 34.1% from the prior quarter to ₹2,077.66 crore, reflecting the expansion in premium earned and investment returns.

## Capital Position

The solvency ratio remained at 2.49 at the end of Q4, unchanged from the prior quarter but down from 3.03 a year ago. Despite the large quarterly profit, the ratio held steady—indicating that the profit‑driven increase in available capital was offset by growth in required capital, consistent with the rapid expansion in premiums.

## Key Takeaway

Niva Bupa’s fourth quarter reversed the pattern of underwriting losses seen in the first three quarters of FY2025‑26. A sharp reduction in both the incurred claim ratio and the expenses of management ratio brought the combined ratio below 1, restoring underwriting profitability. Together with strong premium growth and higher investment income, this delivered the highest quarterly profit in the fiscal year, substantially above the prior‑year quarter. The solvency ratio, while unchanged sequentially, declined over the fiscal year, as the boost to capital from profits was matched by an increase in required capital tied to premium growth.

### Ratios

## Official filings

- 2026-09-17 — Credit Rating Update: Niva Bupa Health Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/MAXBUPA_17092026224648_Disclosure_under_Regulation_30.pdf)
- 2026-09-17 — Generic Announcement: Niva Bupa Health Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/MAXBUPA_17092026225054_Discosure_under_Regulation_51.pdf)
- 2026-09-16 — Management Change: Niva Bupa Health Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/MAXBUPA_16092026172639_Disclosure_under_Regulation_30-Change_in_SMP_.pdf)
- 2026-09-16 — Generic Announcement: Niva Bupa Health Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/MAXBUPA_16092026172423_Disclosure_under_Regulation_30-Change_in_SMP_.pdf)
- 2026-08-26 — Generic Announcement: Niva Bupa Health Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_19757_WebXMLFile_20260826_221653598.xml)
- 2026-08-26 — Generic Announcement: Niva Bupa Health Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/MAXBUPA_26082026221029_Disclosure30-Allotment_of_shares_Final.pdf)
- 2026-08-20 — Generic Announcement: Niva Bupa Health Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/MAXBUPA_20082026152338_Discosure_under_Regulation_30_IRDAI_Final.pdf)
- 2026-08-20 — Generic Announcement: Niva Bupa Health Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/AIATOP_19757_WebXMLFile_20260820_152823793.xml)
- 2026-08-20 — Credit Rating Update: Niva Bupa Health Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/MAXBUPA_20082026204432_Discosure_under_Regulation_30_Final.pdf)
- 2026-08-20 — Generic Announcement: Niva Bupa Health Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/MAXBUPA_20082026205525_Discosure_under_Regulation_51_Final.pdf)
- 2026-08-13 — Generic Announcement: Niva Bupa Health Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/MAXBUPA_13082026174358_Voting_Results_-_18th_AGM_Final_1.pdf)
- 2026-08-12 — Generic Announcement: Niva Bupa Health Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/MAXBUPA_12082026180215_Disclosure_51_Proceedings_of_AGM_Final.pdf)
- 2026-08-12 — Generic Announcement: Niva Bupa Health Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/MAXBUPA_12082026174329_Disclosure-_AGM_Proceeding_Final.pdf)
- 2026-08-11 — Management Change: Niva Bupa Health Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/MAXBUPA_11082026113612_Disclosure__Reg_30IRDAI_approval_Final.pdf)
- 2026-08-03 — Generic Announcement: Niva Bupa Health Insurance Company Limited submitted its unaudited financial results for the quarter ended June 30, 2026, to the National Stock Exchange of India Limited and BSE Limited on August 3, 2026. These results were published in the Financial Express and Jansatta on August 1, 2026. The Board of Directors approved these results on July 30, 2026, following a review by the Audit Committee and Joint Statutory Auditors. — [Official attachment](https://nsearchives.nseindia.com/corporate/MAXBUPA_03082026115803_DisclNewspaperPublication_Final.pdf)
- 2026-08-03 — Generic Announcement: Niva Bupa Health Insurance Company Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_19757_WebXMLFile_20260803_175300899.xml)
- 2026-08-03 — Generic Announcement: Niva Bupa Health Insurance Company Limited held an earnings call on July 30, 2026, to discuss Q1 FY27 performance. The company reported a Profit After Tax of INR 137.8 crores and an improved combined insurance service ratio of 100.2%. Niva Bupa also transitioned to the Ind AS accounting standard and was ranked 41st in the Great Places to Work list. The company plans to raise up to INR 500 crores in debt and has an issuer rating of AAA from ICRA. — [Official attachment](https://nsearchives.nseindia.com/corporate/MAXBUPA_03082026173910_Intimation-Transcript__Final.pdf)
- 2026-07-30 — Generic Announcement: The Board of Directors of Niva Bupa Health Insurance Company Limited, in a meeting held on July 30, 2026, approved the unaudited financial results for the quarter ended June 30, 2026. The Board also approved raising funds up to ₹500 crores through the issuance of listed, rated, unsecured, subordinated, redeemable, non-convertible debentures via private placement. A Debt Raising Committee has been formed to finalize the terms and conditions of this issuance. — [Official attachment](https://nsearchives.nseindia.com/corporate/MAXBUPA_30072026161055_Discl30_Boardmeetingoutcome30072026.pdf)
- 2026-07-30 — Official Filing: Niva Bupa Health Insurance Company Limited's Board of Directors approved the unaudited financial results for the quarter ended June 30, 2026, and authorized fundraising up to ₹500 crores through subordinated, non-convertible debentures via private placement. A Debt Raising Committee was formed to finalize issuance terms. The company also noted an application for forbearance on expenses exceeding allowable limits for FY 2024-25, pending IRDAI approval.
- 2026-07-30 — Official Filing: NIVA BUPA HEALTH INSURANCE COMPANY LIMITED has disclosed an audio recording of an earnings call held on July 30, 2026. The recording was uploaded to the company's website on July 30, 2026, at 20:41:00. Prior intimation of this earnings call was provided to the exchange on July 27, 2026.
- 2026-07-30 — Earnings Presentation: Niva Bupa Health Insurance Company Limited reported its business performance for the quarter ended June 30, 2026, in an earnings call presentation. The company achieved a Gross Written Premium (GWP) of ₹2,150 crore, a 31.7% year-over-year increase. Profit After Tax (PAT) for the quarter was ₹137.8 crore, nearly doubling from ₹71.4 crore in the same period last year. The company also transitioned to Indian Accounting Standards (Ind AS) effective from Q1'FY2027, enhancing financial transparency. — [Official attachment](https://nsearchives.nseindia.com/corporate/MAXBUPA_30072026161535_Disclosure30_Earningscallpresentation.pdf)
- 2026-07-30 — Generic Announcement: Niva Bupa Health Insurance Company Limited submitted the audio recording of its earnings conference call held on July 30, 2026, discussing business performance for the quarter ended June 30, 2026. The recording is available on the company's website. — [Official attachment](https://nsearchives.nseindia.com/corporate/MAXBUPA_30072026211315_Disclosure_Audio_recordings_30072026_Final.pdf)
- 2026-07-30 — Press Release: Niva Bupa Health Insurance Company Limited reported unaudited financial results for the quarter ended June 30, 2026, with Profit After Tax (PAT) growing 93% year-on-year to ₹138 crore. Gross Written Premium (GWP) was ₹2,150 crore, a 32% increase. The company's retail health business grew 47%, raising its market share to 11.1%. The Claim Settlement Ratio improved to 95.6% and the Combined Insurance Service Ratio (CISR) improved to 100.2%. — [Official attachment](https://nsearchives.nseindia.com/corporate/MAXBUPA_30072026162719_Disclosure30_Pressrelease30072026.pdf)
- 2026-07-30 — Official Filing: Niva Bupa Health Insurance Company Limited's board approved raising funds up to Rs. 500.00 Crores through the issuance of debt securities on July 30, 2026. A Debt Raising Committee has been formed to finalize the terms and conditions of the issuance, with further details to be disclosed at a later meeting.
- 2026-07-30 — Official Filing: The Board of Directors of Niva Bupa Health Insurance Company Limited, in a meeting held on July 30, 2026, approved the unaudited financial results for the quarter ended June 30, 2026. The Board also approved raising funds up to ₹500 crores through the issuance of listed, rated, unsecured, subordinated, redeemable, non-convertible debentures via private placement. A Debt Raising Committee has been formed to finalize the terms and conditions of this issuance.

## News and market events

- 2026-09-16 — Mint: **Stocks to buy: Colgate to Rossell Techsys -Sumeet Bagadia gives five breakout shares for Wednesday | 16 September** — Breakout stocks to buy: Sumeet Bagadia recommends five breakout stocks to buy today — Colgate-Palmolive (India), Gmm Pfaudler, Niva Bupa Health Insurance Company, Capillary Technologies India, and Rossell Techsys. — [Source](https://www.livemint.com/market/stock-market-news/stocks-to-buy-colgate-to-rossell-techsys-sumeet-bagadia-gives-five-breakout-shares-for-wednesday-16-sep-11789520287227.html)
- 2026-09-13 — Mint: **₹5 lakh health claim rejected over waiting period: Why Mumbai consumer forum backed policyholder | Mint** — Mumbai consumer forum passed the order in a case involving a ₹5 lakh health insurance claim for pancreatitis. The commission directed Max Bupa Health Insurance to pay the policyholder's claim after the insurer rejected it by citing a 24-month specific waiting period applicable to pancreatitis — [Source](https://www.livemint.com/money/personal-finance/5-lakh-health-claim-rejected-over-waiting-period-why-mumbai-consumer-forum-backed-policyholder-11789300930183.html)
- 2026-09-10 — Mint: **Life insurers ask Irdai to rework expense cap rules | Mint** — Life insurers are seeking greater flexibility in expense caps, arguing that product-specific limits can constrain growing insurers as they invest in distribution, technology and expansion. — [Source](https://www.livemint.com/industry/life-insurers-seek-100-crore-eom-breach-relaxation-as-smaller-players-push-for-flexibility-11789019880043.html)
- 2026-09-10 — MONEYCONTROL: **Insurance industry is moving towards hyper-personalised products, says Niva Bupa deputy CEO Kharbanda** — AI, gff, global fintech fest, insurance, trust gap, niva bupa deputy ceo, ankur kharbanda, whatsapp, insurance products — [Source](https://www.moneycontrol.com/banking/insurance-industry-is-moving-towards-hyper-personalised-products-says-niva-bupa-deputy-ceo-kharbanda-article-14026895.html)
- 2026-09-09 — The Hindu: **11 insurers begin Ind AS transition from FY27; IRDAI tracks rest for FY28** — Eleven insurers have started transitioning to Ind AS in FY27, with IRDAI monitoring others for FY28 adoption. — [Source](https://www.thehindu.com/business/industry/11-insurers-begin-ind-as-transition-from-fy27-irdai-tracks-rest-for-fy28/article71448276.ece)
- 2026-09-08 — Economic Times: **Rs 5 lakh health insurance claim denied by insurer over waiting period for pancreatitis; here's why the policyholder's wife won - The Economic Times** — A health insurer cannot automatically reject claims using waiting-period clauses. The Mumbai Consumer Commission ruled that insurers must prove a condition was pre-existing, not just rely on policy terms. This landmark decision emphasizes fairness and consumer protection, reminding policyholders to understand their policy's nuances and challenge unjustified rejections. — [Source](https://economictimes.indiatimes.com/wealth/insure/rs-5-lakh-health-insurance-claim-denied-by-insurer-over-waiting-period-for-pancreatitis-heres-why-the-policyholders-wife-won/articleshow/133922367.cms)
- 2026-08-21 — BUSINESSTODAY: **Top stocks in news: IndiGo, HAL, Amagi Labs, TMPV, Manipal Health, RailTel Corp, KIMS, Niva Bupa** — Top stocks in news: IndiGo, HAL, Amagi Labs, TMPV, Manipal Health, RailTel Corp, KIMS, Niva Bupa — [Source](https://www.businesstoday.in/markets/stocks/story/top-stocks-in-news-indigo-hal-amagi-labs-tmpv-manipal-health-railtel-corp-kims-niva-bupa-550478-2026-08-21)
- 2026-08-21 — Mint: **Stocks to watch: HAL, RailTel, Tata Motors PV among shares in focus today; check list here** — Stock market today: On Thursday, the Nifty 50 ended the session 0.55% higher at 24,211, meanwhile, Sensex gained 0.75% to settle at 77,488. — [Source](https://www.livemint.com/market/stock-market-news/stocks-to-watch-hal-railtel-tata-motors-pv-among-shares-in-focus-today-check-list-here-11787243365674.html)
- 2026-08-21 — Economic Times: **Stocks in news: BPCL, HAL, RailTel, Saatvik Green Energy and Samvardhana Motherson** — Indian equity benchmarks ended a seven-session losing streak on Thursday, August 20. The NSE Nifty50 closed higher, reclaiming its 50-day exponential moving average. Several companies, including BPCL and HAL, announced significant corporate developments. RailTel Corporation received a work order, and Saatvik Green Energy secured a module supply order. Manipal Health Enterprises reported a decline in net profit for the quarter. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/stocks-in-news-bpcl-hal-railtel-saatvik-green-energy-and-samvardhana-motherson/articleshow/133384324.cms)
- 2026-08-21 — Times of India: **Irdai bars Niva Bupa's branch expansion for six months** — img border="0" hspace="10" align="left" style="margin-top:3px;margin-right:5px;" src="https://timesofindia.indiatimes.com/photo/133390297.cms" / — [Source](https://timesofindia.indiatimes.com/business/india-business/irdai-bars-niva-bupas-branch-expansion-for-six-months/articleshow/133390297.cms)
- 2026-08-20 — FREEPRESSJOURNAL.IN: **IRDAI Bars Niva Bupa From Opening New Business Locations For 6 Months Over Expense Limit Breach** — IRDAI has barred Niva Bupa Health Insurance from opening new business locations for six months after the insurer breached prescribed Rs expense limits during FY 2024-25. Niva Bupa said it has complied with the limits for FY 2025-26 and remains on track for FY 2026-27. Its shares closed 1.3 per cent lower. — [Source](https://www.freepressjournal.in/business/irdai-bars-niva-bupa-from-opening-new-business-locations-for-6-months-over-expense-limit-breach)
- 2026-08-20 — BUSINESSTODAY: **Niva Bupa barred from opening new branches for six months by IRDAI** — Niva Bupa barred from opening new branches for six months by IRDAI — [Source](https://www.businesstoday.in/latest/corporate/story/niva-bupa-barred-from-opening-new-branches-for-six-months-by-irdai-550416-2026-08-20)
- 2026-08-20 — CNBC-TV18: **Niva Bupa warned by IRDAI over FY25 expense limits, barred from opening new offices for 6 months** — Shares of Niva Bupa Health Insurance Company Ltd ended at ₹82.61, down by ₹1.43, or 1.70%, on the BSE. — [Source](https://www.cnbctv18.com/market/stocks/niva-bupa-share-price-warned-by-irdai-over-fy25-expense-limits-barred-from-opening-new-offices-for-6-months-19973738.htm)
- 2026-08-11 — CNBC-TV18: **Sensex Today | Stock Market LIVE Updates: July Mutual Fund Data - Net equity inflow slumps to ₹24,865 crore (MoM)** — Sensex Today | Stock Market LIVE Updates: We are in the second half of this expiry session, and the bears are relentless. The markets are still under pressure, with the Nifty falling close to a 130 points, falling below the 24,450 mark. The Nifty Bank is under pressure, falling over 400 points, falling to 57,300. IndiGo, Tata Consumer and Axis Bank are the top laggards. — [Source](https://www.cnbctv18.com/market/stock-market-live-updates-sensex-nifty-50-expiry-today-oil-adani-bse-wipro-vedanta-vodafone-idea-rvnl-share-price-liveblog-19966134.htm)
- 2026-08-03 — MONEYCONTROL: **Niva Bupa gains as Nomura maintains 'Buy', sees strong premium growth outlook** — Niva Bupa, Niva Bupa stocks, Niva Bupa shares, Nomura, Niva Bupa Q1 results — [Source](https://www.moneycontrol.com/news/business/stocks/niva-bupa-gains-as-nomura-maintains-buy-sees-strong-premium-growth-outlook-13991858.html)
- 2026-08-02 — The Hindu: **No extraordinary spending planned this fiscal, says Niva Bupa; insurer eyes EoM reduction** — Niva Bupa plans to optimise spending and maintain EoM ratio while targeting market share growth and enhancing distribution channels. — [Source](https://www.thehindubusinessline.com/money-and-banking/no-extraordinary-spending-planned-this-fiscal-says-niva-bupa-insurer-eyes-eom-reduction/article71297822.ece)
- 2026-07-30 — CNBC-TV18: **Q1 Results LIVE Updates: RailTel profit flat, JBM Auto margin expands** — Q1 Results LIVE Updates: Bajaj Finance, M&M and Tata Steel are the three Nifty results for the day, along with broader market names like Hyundai Motor, Vedanta, Vedanta Aluminium, Swiggy, Mazagon Dock, Torrent Pharma, Thermax and many others. Eicher Motors, Dabur, three Vedanta demerged units, Bajaj Housing, Hexaware and many more also react to numbers. Watch this space for all the LIVE Q1 results updates. — [Source](https://www.cnbctv18.com/market/q1-results-live-updates-today-bajaj-finance-mm-tata-steel-eicher-dabur-mazagon-dock-swiggy-syngene-irfc-vedanta-aluminium-mtar-hyundai-lic-liveblog-19957385.htm)
- 2026-07-25 — LIVELAW.IN: **Health Insurance Policy Cancellation: Gurugram Consumer Commission Holds Niva Bupa, Yashoda Hospital Liable For Deficiency In Service** — The District Consumer Disputes Redressal Commission, Gurgaon, comprising President Shri Sanjeev Jindal and Members Ms. Jyoti Siwach and Ms. Khushwinder Kaur, held Yashoda Superspeciality Hospital and... — [Source](https://www.livelaw.in/consumer-cases/health-insurance-policy-cancellation-gurugram-consumer-commission-holds-niva-bupa-yashoda-hospital-liable-for-deficiency-in-service-542829)
- 2026-07-21 — Economic Times: **5 critical checks before buying health insurance policy to avoid claim rejections - The Economic Times** — Choosing health insurance requires careful consideration of several important factors. Opting for a policy simply because it has a low premium can leave you underinsured and cost you more when you actually need to file a claim. Adequate coverage is crucial, especially as medical inflation is projected to rise significantly in the coming years. Read on to learn about five key factors every policyholder should assess before buying a policy. — [Source](https://economictimes.indiatimes.com/wealth/insure/5-critical-checks-before-buying-health-insurance-policy-to-avoid-claim-rejections/articleshow/132530063.cms)

## Business profile

**Strategic vision:** Provides health insurance and services for Indian individuals.

### Business segments
- **Retail Health Insurance:** This segment primarily serves individual and family health insurance needs, constituting a significant portion of the company's business portfolio.
- **Corporate Insurance Solutions:** Offers tailored insurance products and solutions for businesses and their employees.

### Competitive strengths
- Knowledge and expertise in providing health services
- Comprehensive range of health insurance products
- Digital platform for service access and claims processing

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## Freshness and sources

- Data as of: 2026-09-18
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/nivabupa
Markdown representation: https://faxioms.com/stocks/nivabupa?render=md