Niva Bupa

What links here Related changes Page information Get shortened URL
Created by Priya.Miahram
Last edited April 9, 2026


Niva Bupa Health Insurance Company
Formerly
Max Bupa Health Insurance Company Limited
Traded as
IndustryInsurance
Founded2008; 18 years ago (2008)
Headquarters
New Delhi
,
India
Area served
India
Key people
Krishnan Ramachandran (MD and CEO)
C. B. Bhave (Chairman)[1]
ServicesHealth insurance
ParentBupa (55%)[2]
Websitenivabupa.com

Niva Bupa Health Insurance Company Limited (Niva Bupa) is an Indian health insurance company, founded in 2008 and headquartered in New Delhi. It is a subsidiary of UK-based health insurance and healthcare company Bupa. The company is regulated by the Insurance Regulatory and Development Authority of India (IRDAI).[3]

History[edit | edit source]

The company was founded as Max Bupa Health Insurance in 2008 as a 74:26 joint venture between Max India and Bupa, with operations starting in 2010.[4][5] It distributed its policies through its agents and bancassurance partners.[6][7][8]

In 2015, Bupa increased its stake in the company to 49%, after acquiring a 23% stake from Max India for ₹191 crore (US$29.77 million).[9]

In February 2019, Max India's entire 51% stake was acquired by Fettle Tone LLP, an affiliate of Indian private equity firm True North, for ₹510 crore (US$72.42 million).[10][11]

In 2023, True North announced that it would sell a 20% stake in the company to Bupa for ₹2,700 crore (US$380 million), making Bupa the majority shareholder at 63%.[12][13]

In November 2024, Niva Bupa went public with an initial public offering and listed on the NSE and BSE,[14] with Bupa continuing as the sole promoter after the IPO with an ownership of over 55%.[2]

Violations[edit | edit source]

In 2016, the IRDAI imposed a penalty of ₹20 lakh on the company for four violations, one of which pertained to timelines for settling claims.[15]

See also[edit | edit source]

References[edit | edit source]

  1. ↑ "Max Bupa appoints Krishnan Ramachandran as MD, CEO". Times of India. 5 May 2020.
  2. ↑ 2.0 2.1 Varier, Aathira (10 February 2025). "UK-based Bupa likely to increase stake in Niva Bupa Health Insurance". Business Standard. Retrieved 25 March 2026.
  3. ↑ Bhasin, Tinesh (3 December 2019). "Max India sells its stake in Max Bupa but policyholders needn't worry". Livemint.
  4. ↑ "Max Bupa health cover enters India". India Today. 30 April 2010.
  5. ↑ "Max launches Bupa Health Insurance in India". Adgully. 8 May 2010.
  6. ↑ Kurian, Boby; Shetty, Mayur (26 February 2019). "True North set to control Max Bupa". The Times of India.
  7. ↑ Srivats, KR (21 September 2019). "Max Bupa and Indian Bank ink bancassurance tie-up to offer health insurance solutions". The Hindu Business Line.
  8. ↑ "IDBI Bank ties up with Max Bupa". Zee Business. 11 June 2019.
  9. ↑ "Bupa to acquire additional 23% stake in Max Bupa". BusinessLine. 23 November 2015. Retrieved 25 March 2026.
  10. ↑ "Max India exits health insurance biz, divests stake in Max Bupa for Rs 510 cr". The Economic Times. 26 February 2019. Retrieved 25 March 2026.
  11. ↑ "IRDAI nod for Max stake sale in venture with Bupa". The Hindu. 3 December 2019.
  12. ↑ Chatterjee, Dev (29 September 2023). "True North sells 20% stake in Niva Bupa to Bupa for Rs 2,700 crore". Business Standard. Retrieved 25 March 2026.
  13. ↑ "India's True North to sell $325 mln stake in Niva Bupa Insurance". Reuters. 29 September 2023. Retrieved 25 March 2026.
  14. ↑ Sen, Meghna (4 November 2024). "Niva Bupa IPO: Price band set at ₹70-74 a share for ₹2,200-crore issue". CNBC TV18. Retrieved 25 March 2026.
  15. ↑ "Rs.20 lakh IRDA penalty on Max Bupa Health Insurance". The Hindu. 2 May 2016. ISSN 0971-751X. Retrieved 8 November 2024.

External links[edit | edit source]

  • {{URL|example.com|optional display text}}
Retrieved from "https://en.bharatpedia.org/w/index.php?title=Niva_Bupa&oldid=522311"
Discover more