Sells health insurance policies to individuals and families (retail) and to corporates and SMEs (group). Retail health is the main growth engine, with gross written premium up 47.1% in Q1 FY27 and retail health market share at 11.1% on a reported basis. Group business was flat year-on-year as management walked away from uneconomic B2B pricing, shifting group mix toward SMEs and affinity accounts (SME +50%). Claims are the biggest cost line — the combined claims ratio was 63% in Q1 FY27 — with operating expenses (expense of management at 35.2%) the other large cost. Distribution runs through Direct, Agency, Bancassurance and other channels, including 58,000 net new agent additions in FY26. The firm invests customer premiums in a ₹9,963 crore book earning a 7.2% yield, and runs a Preferred Provider Network of 1,000+ hospitals across 49 cities that handles 22% of claims. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Retail health insurance, Group health insurance, Investment income. Asset-heavy, claim-intensive health insurance carrier with two business lines — fast-growing retail and selectively priced group
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | — | — |
| EBITDA (ex other income) | — | — |
| margin % | — | — |
| Owners' profit | 214 | 131 |
| EPS, as reported (₹) | — | — |
| ROE % · ROCE % | — · — | — · — |
| Debt / equity (x) | — | — |
| Cash from operations | 1,654 | 905 |
| Capex | (41) | (49) |
| ₹ crore | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|
| Revenue | — | — | — | — | — |
| Profit before tax | — | — | — | — | — |
| Net profit | 206 | (91) | (35) | (88) | 345 |
| EPS (₹) | — | — | — | — | — |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| NIVA BUPA HEALTH INS CO L ◆ | — | — | — | — | — | — | — | — |
| THE NEW INDIA ASSU CO LTD | — | — | — | — | — | — | — | — |
| STAR HEALTH & AL INS CO L | — | — | — | — | — | — | — | — |
| GO DIGIT GENERAL INS LTD | — | — | — | — | — | — | — | — |
| ICICI LOMBARD GIC LIMITED | — | — | — | — | — | — | — | — |
| GENERAL INS CORP OF INDIA | — | — | — | — | — | — | — | — |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 26 Aug 2026 · Niva Bupa allots 4.11 lakh shares under ESOP schemes | capital market events | low | — | — |
| 20 Aug 2026 · ICRA reaffirms AAA issuer rating, assigns AA+ to 500cr sub-debt | credit debt | medium | — | — |
| 20 Aug 2026 · IRDAI warns Niva Bupa over expense limit breach; 6-month branch freeze | regulatory legal | high | — | — |
| 12 Aug 2026 · Niva Bupa 18th AGM held on August 12, 2026; 12 resolutions passed | board shareholder meetings | medium | — | — |
| 11 Aug 2026 · IRDAI approves Ashwani Bhatia as Chairperson of Niva Bupa | management changes | high | — | — |
| 3 Aug 2026 · Niva Bupa Q1 FY27 transcript filed; growth strong, margins improving | investor communications | medium | — | — |
| 3 Aug 2026 · Q1 FY27 results published; PAT nearly doubles year on year | compliance | minimal | — | — |
| 30 Jul 2026 · Link to Q1 FY27 earnings call recording shared with exchanges | investor communications | low | — | — |
| 30 Jul 2026 · Niva Bupa Q1 FY27 PAT up 93% to 138 cr, GWP up 32% to 2,150 cr | compliance | low | — | — |
| 30 Jul 2026 · Niva Bupa Q1 FY27 PAT nearly doubles to Rs 138 cr on strong growth | investor communications | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| Profit growth | 67.5 | 21.9 | 2 of 12 | 91% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
