Niva Bupa Health Insurance Company Limited has announced its unaudited financial results for the third quarter and nine months ended December 31, 2024. The company’s revenue for Q3 FY25 stood at ₹1,24,050 lakh, reflecting a moderate increase compared to the previous quarter’s ₹1,35,974 lakh. Net profit after tax for the quarter came in at ₹1,324 lakh, slightly up from ₹1,302 lakh in Q2 FY25.
Key Financial Highlights (Q3 FY25 vs. Q2 FY25)
- Gross Premium Written: ₹1,44,207 lakh (down from ₹1,77,733 lakh)
- Net Premium Written: ₹1,15,243 lakh (down from ₹1,39,329 lakh)
- Net Earned Premium: ₹1,13,580 lakh (down from ₹1,21,322 lakh)
- Income from Investments (Net): ₹6,791 lakh
- Total Expenses: ₹1,23,709 lakh
- Underwriting Loss: ₹10,129 lakh
- Solvency Ratio: Improved to 3.03 from 2.25 in Q2 FY25
Despite a decline in gross premium written, the company maintained profitability through disciplined expense management and investment income growth. The incurred claims ratio stood at 65.14%, reflecting an increase from the previous quarter’s 61.18%.
The board has also approved the re-appointment of Mr. Krishnan Ramachandran as Managing Director & CEO for a five-year term, from May 1, 2025, to April 30, 2030. His leadership has been instrumental in the company’s strategic growth and operational stability.
The company recently raised ₹80,000 lakh through its Initial Public Offering (IPO), with ₹77,847 lakh already utilized for capital augmentation and solvency maintenance. Additionally, Niva Bupa confirmed compliance with IRDAI regulations and SEBI listing obligations.
Niva Bupa remains focused on enhancing its product portfolio, leveraging digital initiatives, and improving customer experience to drive sustainable growth. With a robust solvency position and strategic leadership, the company is well-positioned for long-term success in India’s growing health insurance market.
