Niva Bupa Reports ₹62 Crore PAT in Q2 FY26, GWP at ₹2,108 Crore
Filing Summary
Niva Bupa Health Insurance Company Limited released its unaudited financial results for Q2 FY26, reporting a Profit After Tax (PAT) of ₹62 crore, more than doubling from ₹24 crore in Q2 FY25. The company’s Gross Written Premium (GWP) reached ₹2,108 crore without 1/n basis. Retail Health GWP increased by 24.5% year-on-year. The Combined Insurance Service Ratio improved to 103.1%. The Claims Settlement Ratio stood at 95.2%, and the Solvency Ratio improved to 2.85x. The company covers 23.14 million lives as of the end of Q2 FY26.
Niva Bupa Health Insurance Company Limited announced its unaudited financial results for the quarter ending September 30, 2025. The company reported a Profit After Tax (PAT) of ₹62 crore for Q2 FY26, compared to ₹24 crore in the same quarter of the previous fiscal year. The Retail Health Gross Written Premium (GWP) increased by 24.5% year-on-year, reflecting growth in the retail health category.
For Q2 FY26, Niva Bupa’s overall Gross Written Premium (GWP) was ₹2,108 crore on a without 1/n basis and ₹1,843 crore on a with 1/n basis. By the end of the first half of FY26, the company recorded ₹3,983 crore of GWP without 1/n and ₹3,475 crore with 1/n. The Combined Insurance Service Ratio improved to 103.1%, a 141 basis points improvement from Q2 FY25. The Claims Settlement Ratio was maintained at 95.2% for the quarter, and the Solvency Ratio improved to 2.85x, exceeding regulatory requirements.
The company observed increased retail demand following the implementation of the GST exemption, contributing to growth momentum. Niva Bupa’s distribution channels remained balanced, with the Individual Agency channel contributing 31% of revenues, Brokers 27%, Bancassurance 20%, and Direct business 10%. Corporate Agents, excluding banks, showed the fastest year-on-year growth of 44%, contributing 11% of the quarter’s revenues.
As of the end of Q2 FY26, Niva Bupa covers 23.14 million lives and has a network of 10,507 empanelled hospitals. The company operates over 209 physical branches across India and collaborates with 2.1 lakh agents, 560+ brokers, and over 110 Banca and Other Corporate Agency Partners. The company has maintained a claim settlement ratio above 90% over the last four financial years.
The unaudited financial results were released on November 3, 2025, with the filing submitted to the National Stock Exchange of India Limited and BSE Limited. The results reflect the company’s operational performance for the quarter and half-year ending September 30, 2025.
Niva Bupa Health Insurance Company Limited is a public listed company focused on providing health insurance solutions. The company aims to enable access to healthcare for every Indian, aligning with its brand philosophy. It continues to expand its reach and enhance its service offerings in the health insurance sector.