Incorporated in 2008, Niva Bupa Health Insurance Ltd is a Tech driven leading health insurer in India.
Q3 FY26 Earnings Results
- Revenue from Operations / Gross Premiums Written: GWP ₹2,231 cr, +54% YoY vs ₹1,442 cr; net premium written ₹1,767 cr (+53% YoY vs ₹1,152 cr), premium earned ₹1,454 cr (+28% YoY vs ₹1,136 cr); strong growth in retail/group health amid market expansion.
- EBITDA / Underwriting: Underwriting loss widened to ₹232 cr vs ₹101 cr YoY; combined ratio 111.88% (+6.84 pp YoY), reflecting higher claims/incurred ratios.
- PAT: Net loss ₹88 cr vs profit ₹13 cr YoY (−662% YoY); 9M net loss ₹214 cr vs profit ₹7 cr YoY; solvency ratio 2.85x, claims settlement 95.2%, lives covered 23.14 mn (+YoY).
- Other key metrics: 9M GWP ₹5,706 cr (+22% YoY); health segment dominant (~99%), personal accident/travel minor; NPS 57.
Management Commentary & Strategic Decisions
- Premium momentum robust with 54% GWP growth, but underwriting losses from claims/operating costs; 9M IFRS PAT ₹208 cr (+74% YoY) shows underlying strength.
- Strategic moves: Distribution diversity (corporate agents +44%); retail health focus; board approved unaudited results Jan 29.
Q2 FY26 Earnings Results
- Revenue from Operations / GWP: GWP ₹2,108 cr (without 1/n), retail health +24.5% YoY; combined ratio 103.1% (+141 bps YoY improvement).
- EBITDA / Underwriting: Underwriting loss ₹178 cr vs ₹88 cr YoY; operating loss ₹62 cr vs profit ₹58 cr YoY.
- PAT: IFRS PAT ₹62 cr (+158% YoY vs ₹24 cr); net loss ₹35 cr (standalone).
- Other key metrics: H1 GWP ₹3,983 cr (without 1/n); solvency 2.85x, CSR 95.2%, NPS 57, lives 23.14 mn.
Management Commentary Q2
- IFRS profitability doubled on premium growth; underwriting challenges persist but ratio improved.
- Strategic moves: Grow faster than industry; profitability focus via efficiencies.
To view the company’s previous earnings and latest concall transcripts, click here to visit the Alphastreet India news channel.