Niva Bupa Health Insurance Company
Niva Bupa Health Insurance Company Limited is an IRDAI-registered standalone health insurer founded in 2008 and headquartered in New Delhi, holding registration number 145. It traded as Max Bupa Health Insurance until 2021, when it was renamed after True North acquired Max’s stake, and policies issued as Max Bupa continue under the renamed entity.
Key Facts
| Legal name | Niva Bupa Health Insurance Company Limited |
| Former name | Max Bupa Health Insurance Company Limited |
| IRDAI registration number | 145 |
| Licence class | Standalone health insurance |
| Founded | 2010 |
| Headquarters | New Delhi |
| Promoters | Bupa Singapore Holdings Pte. Ltd. And Bupa Investments Overseas Limited |
| Incurred claim ratio FY 2025-26 | 68.55% |
| Cashless hospital network | 10,000+ hospitals |
| Solvency ratio | 2.49 (as of March 31, 2026) |
About Niva Bupa
If you are looking for Max Bupa, this is the same company. Max Bupa Health Insurance was renamed Niva Bupa in 2021 after True North acquired the Max group’s stake in the business. No policy terms changed. Every policy issued as Max Bupa remains valid and is serviced by Niva Bupa. Policyholders can use the policy number printed on the original Max Bupa document.
That leads the page because it is the question most visitors arrive with, and because a policyholder holding a Max Bupa document has a reasonable fear that the company no longer exists.
A second confusion worth clearing: Max Bupa and Max Life are not the same company and never were. Max Life is a life insurer, renamed Axis Max Life in 2024. Max Bupa was a standalone health insurer, renamed Niva Bupa in 2021. They shared a promoter group and nothing else that matters. Two companies, two licence classes, two renames, three years apart.
Niva Bupa was licensed in 2008 as a joint venture between the Max group and Bupa, the UK health insurance and healthcare group. It received IRDAI approval to conduct health insurance business in February 2010. Bupa later increased its ownership and became the controlling shareholder in January 2024.
The company writes retail health, group health, personal accident and travel cover, which is the full extent of a standalone health licence.
IRDAI Registration And Licence
Niva Bupa holds IRDAI registration number 145 as a standalone health insurer, permitting health insurance, personal accident and travel cover only. It cannot write motor, home, fire or life insurance.
The registration number did not change with the rename, because a registration follows the legal entity rather than the trading name. A Max Bupa policy and a Niva Bupa policy sit under the same registration.
Claim Record
Niva Bupa’s principal claim metric for this page is its incurred claim ratio (ICR), not its claim settlement ratio. ICR measures net claims incurred against net earned premium and should not be interpreted as the percentage of claims settled by the insurer.
For FY2025-26, Niva Bupa’s health segment reported a net incurred claims to net earned premium ratio of 68.55%, compared with 61.64% in the previous period.
| Measure | Niva Bupa FY2025-26 | What it means |
|---|---|---|
| Incurred claim ratio | 68.55% | Net claims incurred as a percentage of net earned premium |
| Previous-period ICR | 61.64% | Corresponding ratio for the previous period |
For a buyer comparing insurers, the repudiation rate answers the more relevant question. Incurred claim ratio describes the insurer’s economics; repudiation rate describes how often a claim gets declined.
Financial Strength
Niva Bupa reported a solvency ratio of 2.49 as of March 31, 2026, against the regulatory minimum of 1.50. The ratio was 3.03 at the end of FY2024-25, indicating a decline in the latest year, although the company’s solvency position remained above the prescribed minimum.
The company reported gross written premium of ₹8,586 crore in FY2025-26, compared with ₹6,762 crore in FY2024-25. Its audited Indian GAAP financial results also show a profit after tax of ₹130.78 crore for FY2025-26.
| Measure | Niva Bupa 2025-26 | Benchmark |
|---|---|---|
| Solvency ratio | 2.49 | IRDAI minimum 1.50 |
| Gross written premium | ₹8,586 crore | FY2024-25: ₹6,762 crore |
| Profit after tax | ₹130.78 crore | FY2024-25: ₹213.52 crore |
| Lives insured | 2 crore+ | Latest company-reported figure |
| Cashless hospital network | 10,000+ hospitals | Current company website |
Niva Bupa’s current website states that it has 10,000+ network hospitals across India. Its FY2024-25 annual report reported 2 crore+ lives insured, so these figures should not be confused with the company’s incurred claim ratio.
Products Offered
Niva Bupa’s current product portfolio includes individual and family health insurance plans, senior-citizen cover, travel insurance, personal accident products and specialised health plans. Its current website highlights Aspire, ReAssure 3.0, Rise, Health Premia, Health Companion and Senior First among its health insurance offerings.
| Category | Niva Bupa product range |
|---|---|
| Individual health | Aspire, ReAssure 3.0, Rise, Health Companion |
| Family floater | ReAssure 3.0, Aspire, Health Companion |
| Senior citizen | Senior First, ReAssure 3.0, Health Companion |
| Critical illness | Health Premia and other specialised products |
| Personal accident | Accident Armour and Personal Accident Plan |
| Travel | TravelAssure |
Niva Bupa’s official download centre lists current documentation for products including Aspire, ReAssure 3.0, Rise, Senior First, Health Companion, Health Premia, TravelAssure and Accident Armour. Product names, versions and UINs can change when a plan is revised, relaunched or withdrawn.
For this reason, the UIN and product version shown on the latest prospectus, policy wording or customer information sheet should be treated as the controlling reference for a specific purchase. Niva Bupa’s official product records show that products can be revised or withdrawn over time.
Waiting periods, room-rent conditions, co-payments, sub-limits and exclusions vary between products. Buyers should therefore compare the current policy wording and prospectus, rather than selecting an insurer solely on the basis of company-level claim ratios.
Grievance and Complaints Record
Niva Bupa’s FY2025-26 public disclosure recorded 6,399 customer complaints across all categories during the financial year. Of these, 4,675 were claim-related, making claims the largest complaint category. The company had 44 customer complaints pending at March 31, 2026.
| Measure | Niva Bupa FY2025-26 | What it shows |
| Total complaints received | 6,399 | All customer complaint categories |
| Claim-related complaints | 4,675 | Largest complaint category |
| Claim complaints per 10,000 claims | 29.19 | Company disclosure |
| Policy complaints per 10,000 policies | 0.34 | Company disclosure |
| Complaints pending at March 31, 2026 | 44 | All were pending for up to 15 days |
For claim-related complaints, Niva Bupa’s FY2025-26 disclosure shows 168 fully accepted, 544 partially accepted and 757 rejected complaints among complaints resolved or settled during the final quarter. Twenty-seven claim-related complaints remained pending at the end of the quarter.
A separate measure is the number of complaints handled by the Insurance Ombudsman. In FY2024-25, Niva Bupa recorded 3,983 Ombudsman complaints. Against 21.675 million persons covered, this worked out to approximately 18 complaints per lakh policyholders. The figure is based on Council of Insurance Ombudsmen and IRDAI data.
Disclaimer:
These figures should not be treated as evidence that every complaint was justified or that every rejected complaint represented an incorrect claim decision. Complaint volumes indicate the level and nature of grievances and should be considered alongside claim settlement, repudiation, incurred claim ratio and claim-processing data.
How to Contact Niva Bupa and File a Claim
| Channel | Detail |
|---|---|
| Registered office | C-98, First Floor, Lajpat Nagar, Part 1, New Delhi-110024 |
| Customer care number | 1860-500-8888 |
| GRO@nivabupa.com | |
| Website | nivabupa.com |
For a cashless claim, planned admission: Confirm the hospital is on the current cashless list, notify Niva Bupa within the period your policy specifies before admission, and have the hospital submit pre-authorisation. Settle whatever the policy does not cover at discharge.
For an emergency admission: Get treatment first, then have the hospital notify the insurer, generally within 24 hours. Check your policy for the exact requirement.
For a reimbursement claim: Pay the hospital, then submit the claim form with all original bills, prescriptions, the discharge summary and diagnostic reports.
Frequently Asked Questions
Is Max Bupa and Niva Bupa the same company?
Max Bupa and Niva Bupa are the same company. Max Bupa Health Insurance was renamed Niva Bupa in 2021 after True North acquired the Max group’s stake. The IRDAI registration, the policy terms and the servicing entity are unchanged. Policies issued as Max Bupa remain fully valid.
What is Niva Bupa's claim settlement ratio?
Niva Bupa reported a 94.54% claim settlement ratio for FY2025-26, based on adjusted health claims. It settled 15,04,369 claims out of 15,91,209 adjusted claims. Separately, its health-segment incurred claim ratio was 68.55%. The two figures measure different aspects of claims performance and should not be treated as interchangeable.
Are my old Max Bupa policies still valid?
Policies issued by Max Bupa remain fully valid and are serviced by Niva Bupa on their original terms. A rename does not change policy conditions, waiting periods, premiums or benefits. Use the policy number printed on your original Max Bupa document when contacting the company or filing a claim
Is Niva Bupa a good health insurance company?
There is no single answer for every buyer. Niva Bupa reported a 68.55% health-segment ICR and a 2.49 solvency ratio for FY2025-26. It also reported a 94.54% claim settlement ratio and operates a 10,000+ hospital network. However, buyers should compare the specific policy’s waiting periods, exclusions, co-payments, room-rent conditions and hospital availability before deciding.
How do I contact Niva Bupa for a claim?
Contact Niva Bupa through its customer care number, website or app, using the policy number on your document, including one issued as Max Bupa. For a planned admission, notify the insurer before you are admitted; for an emergency, the hospital should notify it after admission, generally within 24 hours.
ON THIS PAGE
- List of all General Insurance Companies in India
- Public Sector General Insurance Companies
- Private General Insurance Companies
- Specialised Insurance Companies
- Incurred Claim Ratio: The Key Metric for General Insurers
- Types of General Insurance in India
- How to Choose a General Insurance Company
- General Insurers vs Standalone Health Insurers
- FAQs
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