Niva Bupa Health Insurance Company Limited has informed the Exchange about Transcript
NIVABUPA · price
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Niva Bupa reported a strong Q1 FY26 with gross written premium growth of 28% year-on-year (retail health grew 32%), driven mainly by volume rather than price. IFRS profit after tax nearly doubled to INR 70 crore from INR 36 crore in the same quarter last year, and the combined ratio improved by 70 basis points to 103.2%. The company raised prices by 7% on its flagship ReAssure 2.0 product and confirmed it is on track to bring its expense ratio within IRDA's regulatory limit this fiscal. Retail market share edged up to 10% (from 9.9%), while the company cut its share of multi-year policies from the late 20s to early 20s. Management cautioned that loss ratios rose due to accounting changes (1/n), reserve strengthening after a temporary pause in auto-adjudication of claims, and a shift toward large corporate group business, but said these effects should normalize. Solvency stayed healthy at 2.86x against the 1.50x minimum, and AUM stood above INR 8,100 crore.
This is a positive update for shareholders: nearly doubled profits, improving combined and expense ratios, market-share gains, and a clear path to regulatory compliance on expenses suggest strengthening fundamentals. The temporary spike in loss ratio is explained by accounting changes and one-off reserve build-up rather than core deterioration, which should ease over coming quarters.