Gurugram, 05 February 2025: Niva Bupa Health Insurance Company Limited (Formerly known as Max Bupa Health Insurance Company Limited), today announced its Q3FY25 financial results. The company delivered 25.3% growth in gross written premium (GWP) in Q3 over last year on a like-to-like basis. For the first 9 months of the current financial year, Niva Bupa reported a GWP of ₹5011cr, delivering 30.2% Y-O-Y growth. In line with its objective of balancing growth with profitability, the company reported a profit after tax (PAT) of ₹13.2 crore with an impressive 189% Y-o-Y growth in Q3FY25.

These are the company’s first reported financials after the new framework of premium recognition prescribed by IRDAI which took effect from 01 October 2024. As per this new framework, premium collected for a long-term policy shall be recognized on a yearly basis; i.e. for long-term policy, the GWP recognized for any financial year shall be the total GWP due for that policy multiplied by ‘1/N’ where ‘N’ is the duration of policy in years. Since ‘1/N’ was not applicable last year while reporting the Q3FY24 results, the reported GWP for Q3FY25 factoring in the impact of ‘1/N’ will not be a like-to-like comparison with Q3FY24 numbers. With ‘1/N’, Niva Bupa’s Gross Written Premium (GWP) for Q3FY25 is ₹1442Cr with 2.1% Y-o-Y growth. Likewise, with ‘1/N’ the GWP for 9M FY25 is 4684cr, demonstrating 21.7% Y-o-Y growth.

Commenting on the results Krishnan Ramachandran, MD and CEO, Niva Bupa Health Insurance, said, “Niva Bupa remains focused on building a solid foundation for future growth. Our strong solvency, robust profitability, and improving retail market share has positioned us strongly to cater to the significant opportunity in the health insurance segment. We shall continue to invest in technology, distribution, and customer-first solutions to redefine healthcare access. Our commitment to empowering every Indian with the financial confidence to access the best healthcare remains unwavering.”

On the back of higher than category growth rate, Niva Bupa’s retail health market share has increased from 9.0% in 9MFY24 to 9.6% in 9MFY25. The growth is basis contribution of many factors including company’s retail digital business (including partners) which has grown by approx. 32% on like-to-like basis in Q3’FY25. Niva Bupa also reported strengthening of its net promoter score (NPS), an industry wide metric to gauge consumer sentiment across varied touchpoints. The company’s NPS score has witnesses a Y-o-Y growth of 6 points to reach 56 in Q3 FY’25.