Niva Bupa FY26 Net Profit Jumps 80% to INR366 Crore

Niva Bupa reported an 80% YoY rise in FY26 net profit to INR366 crore, with a 27.4% GWP growth to INR9,433 crore.
The company's retail health GWP grew 35% YoY, increasing its market share to 10.1% for FY26 and 10.4% in Q4.
Combined ratio improved by 160 bps to 101.4% on IFRS basis, driven by a 2.7% reduction in expense ratio to 33.7%.
Management provided a medium-term target of a 99% combined ratio and mid-to-high teens ROE by FY29.