Niva Bupa Health Insurance Company Limited announced its Q2 FY’26 results, with Profit After Tax (IFRS) more than doubling to ₹62 crore from ₹24 crore in Q2’FY’25. Retail Health GWP increased by 24.5% YoY. The company reported a Claims Settlement Ratio of 95.2% and a Solvency Ratio of 2.85x. As of the end of Q2 FY’26, Niva Bupa covers 23.14 million lives.
Strong Financial Performance
Niva Bupa Health Insurance Company Limited reported a significant increase in profitability for Q2 FY’26. The Profit After Tax (IFRS) more than doubled, reaching ₹62 crore compared to ₹24 crore in the same quarter last year. This growth highlights the company’s improved financial health and operational efficiency.
Retail Health GWP Growth
The company experienced substantial growth in its Retail Health Gross Written Premium (GWP), with an increase of 24.5% YoY. This demonstrates Niva Bupa’s strengthening position in the retail health insurance market and its ability to attract and retain customers.
GWP Details
For Q2 FY’26, Niva Bupa reported overall GWP of ₹2,108 crore on a without 1/n basis (and ₹1,843 crore on a with 1/n basis). At the end of H1 FY’26, the Company has recorded ₹3,983 crore of GWP (without 1/n) and ₹3,475 crore (with 1/n).
Key Ratios and Customer Advocacy
Niva Bupa maintained a strong Claims Settlement Ratio of 95.2% this quarter. The Solvency Ratio improved significantly to 2.85x. The company’s customer advocacy score remains high, with an NPS of 57. As of the end of Q2 FY’26, Niva Bupa now covers 23.14 million lives.
Distribution Channels
The distribution franchise remains well-balanced, with contributions from various channels. The Individual Agency channel contributed 31%, Brokers 27%, Bancassurance 20%, and Direct business 10%. Corporate Agents (other than Banks) registered the fastest YoY growth of 44%, contributing 11% of revenues for the quarter.
Source: BSE
