Niva Bupa Health Insurance Company Limited has informed the Exchange about Transcript of the earnings call held on May 08, 2026.
NIVABUPA · price
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Niva Bupa reported FY26 GWP of INR 9,433 crores with 27.4% overall growth and 35% retail growth. Profit after tax jumped 80% to INR 366 crores from INR 203 crores, with ROE crossing double digits at 10.7%. Retail health market share improved to 10.1% from 9.4%. IFRS combined ratio improved by 160 bps to 101.4%, driven by 2.7% reduction in expense ratio (to 33.7%) despite 1.1% increase in loss ratio. Management guided for combined ratio to reach ~99% by FY29 with mid-to-high teens ROE, with savings coming from operating leverage, economies of scale and technology investments. Industry retail health growth expected at 17-19% CAGR over 5 years.
Strong earnings momentum with improving profitability and market share gains. The guided improvement in combined ratio and ROE trajectory signals better operational efficiency ahead, which could be positive for valuations in the health insurance sector.