The insurer posted an operating loss of ₹135.53 crore in Q3FY25
Standalone health insurer Niva Bupa Health Insurance on Thursday reported a net loss of ₹87.64 crore for the third quarter this fiscal as against ₹13.24 crore net profit for the same period last fiscal.
The insurer posted an operating loss of ₹135.53 crore in Q3FY25 compared with an operating profit of ₹3.41 crore in Q3FY26, according to a stock exchange filing. Net premium written during the period under review grew 22.51 per cent y-o-y at ₹1,766.70 crore from ₹1,152.43 crore in the year-ago period.
The insurer’s expenses of management (EoM) ratio improved to 33.10 per cent from 41.73 per cent in Q3FY25. Combined ratio remained flat at 108.19 per cent as against 108.29 per cent in the same period last fiscal.
Solvency ratio
In the third quarter of FY26 solvency ratio stood at 2.49 compared with 3.03 in the corresponding period of FY25.
On a reported basis (with 1/n accounting impact), the company’s gross written premium (GWP) grew 55 per cent y-o-y to ₹2,231 crore in the third quarter from ₹1,442 crore in the year-ago period.
For the first nine months of the current financial year (9MFY26) GWP stood at ₹5,706 crore, registering a 22 per cent growth y-o-y. The health insurer said its customer base continued to show robust 23 per cent year-on-year growth, with the number of lives insured increasing to 24.5 million as of December, 2025.
Commenting on the results, Krishnan Ramachandran, MD & CEO, Niva Bupa said, “Our Q3FY26 performance reflects the strength of our growth strategy, increasing relevance in the retail health insurance market, and sustained focus on profitability. As we continue to scale responsibly, we remain committed to improving customer outcomes while building a resilient and profitable health insurance franchise.”
Published on January 29, 2026
