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About Niva Bupa Health Insurance Company Ltd Niva Bupa Health Insurance Company Limited, originally established as Max Bupa Health Insurance Limited in 2008, is a standalone health insurance provider (SAHI) operating primarily in the retail health market. The company offers a range of health insurance products, including personal accident, critical illness, and travel coverage. It was granted approval by the Insurance Regulatory and Development Authority of India (IRDAI) to commence health insurance operations in February 2010, with policy sales beginning in March that year. Over the years, the company has undergone multiple name transitions, with its current identity adopted in July 2021.
The company is structured as a joint venture, with Bupa Singapore Holdings Pte. Ltd. holding a majority 63% stake and Fettle Tone LLP as a key shareholder. Bupa Singapore Holdings has progressively increased its ownership over the years, starting at 26% in 2016, growing to 49%, and ultimately acquiring a controlling interest in the company through a significant equity acquisition from Fettle Tone LLP in 2024.
As a subsidiary of Bupa Singapore Holdings, Niva Bupa is strategically positioned in India's growing health insurance market. The company specializes in providing standalone, retail health insurance solutions, differentiating it from multiline insurers. Its focus on health, personal accident, and travel-related insurance products caters to India's increasing demand for personalized healthcare solutions.
Currently, Niva Bupa is planning to go public with an Initial Public Offering (IPO) to raise ₹3,000 crores. This includes a fresh issuance of ₹800 crores and an offer for sale of ₹2,200 crores. The IPO positions the company to capitalize on its growth potential, expand operations, and further strengthen its market position in India’s health insurance sector.