Niva Bupa FY26 PAT Surges 80% to ₹366 Cr; GWP Grows 27% to ₹8,586 Cr
Niva Bupa reported strong FY26 results with PAT growing 80% to ₹366 crore and GWP increasing 27% to ₹8,586 crore. Market share rose to 10.1%, and the claim settlement ratio improved to 94.4%. Q4FY26 GWP grew 39% to ₹2,880 crore. The company aims for sustainable profitability with improved CISR.
The significant growth in PAT and GWP, coupled with market share gains and improved operational efficiency metrics, are material positive developments for the company's stakeholders.
The company has reported strong financial growth in PAT and GWP, along with improvements in key operational metrics like market share, claim settlement ratio, and NPS, indicating a positive performance.
Niva Bupa Health Insurance Company Limited announced its audited financial results for the fourth quarter and full financial year ended March 31, 2026. The company reported a significant 80% year-on-year growth in IFRS Profit After Tax (PAT) for FY26, reaching ₹366 crore. This growth was attributed to scale-led efficiencies and improved operating performance.
For the full financial year FY26, Niva Bupa registered a 27% year-on-year growth in Gross Written Premium (GWP), with ₹8,586 crore reported (with 1/n) and ₹9433 crore (without 1/n). In the fourth quarter (Q4FY26), GWP stood at ₹2,880 crore (with 1/n), a 39% increase, and ₹3,123 crore (without 1/n), demonstrating sustained business momentum.
The company also strengthened its market position, with market share in the retail health segment increasing to 10.1% at the close of FY26, a 76 basis points rise over FY25. The Claim Settlement Ratio improved to 94.4% for FY26, a 205 basis points increase from the previous year. The Net Promoter Score (NPS) saw an improvement, rising from +55 in FY25 to +60 at the end of FY26.
Niva Bupa's Combined Insurance Service Ratio (CISR) improved to 101.4% for FY26, a 160 basis point improvement over FY25. Notably, the company exited the year with a Q4FY26 CISR of 97.4%, indicating a positive trajectory towards underwriting profitability. The distribution channels showed a diversified contribution, with Individual Agency contributing 30.2% of GWP, Brokers 29.5%, and Corporate Agency (Banks) 19.5%.
Krishnan Ramachandran, Managing Director & CEO, Niva Bupa Health Insurance, commented that FY26 was a year of strong, well-rounded performance, with growth, profitability, and customer metrics all moving in the right direction. He highlighted the strong growth in PAT and improvement in CISR as reinforcing the path towards sustainable profitability.
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