IRDAI Order
IRDAI bars Niva Bupa from opening new offices for 6 months
This story was originally published at 16:27 IST on 20 August 2026
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NEW DELHI – The Insurance Regulatory and Development Authority of India has directed Niva Bupa Health Insurance Co. Ltd. not to open any new place of business for a period of six months from Wednesday, the company said in an exchange filing on Thursday. The regulator, which had sought an explanation from Niva Bupa Health Insurance on management expense limits, had warned the company for not complying with the applicable Expense of Management limits for 2024-25 (Apr-Mar), the company said.
The company said it is evaluating the order and will take appropriate steps to safeguard stakeholders' interests.
"Further, it may be noted that the company is in compliance with the IRDAI (Expenses of Management, including Commission of Insurers) Regulations, 2024 for the full financial year ended March 31, 2026 as well as for the period Q1 ended June 30, 2026 and is on track to ensure compliance with the said EoM Regulations, 2024 for the full financial year ending March 31, 2027," it said.
Tuesday, Niva Bupa Health Insurance said it had received the IRDAI's approval for the appointment of Ashwani Bhatia as the company's chairperson effective from Jun. 3. For the June quarter, the health insurer had reported a net profit of INR 1.38 billion on revenue of INR 22.74 billion. Thursday, the company's shares ended at INR 82.88 on the National Stock Exchange, down 1.3% from the previous close. End
Reported by Vaishali Tyagi
Edited by Saji George Titus
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