Niva Bupa Health Insurance Limited was originally incorporated as ‘Max Bupa Health Insurance Limited’ at New Delhi as a public limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated September 5, 2008, issued by the Assistant Registrar of Companies, National Capital Territory of Delhi and Haryana and was granted its certificate for commencement of business on December 23, 2008 by the Deputy Registrar of Companies, National Capital Territory of Delhi and Haryana. Thereafter, the name of the company was changed to ‘Max Bupa Health Insurance Company Limited’, upon a request by the IRDAI, pursuant to a fresh certificate of incorporation dated July 30, 2009 issued by the Registrar of Companies, National Capital Territory of Delhi and Haryana. The company was required to discontinue using the ‘Max’ brand in its name, pursuant to Max India Limited ceasing to hold Equity Shares in the company. Hence, the name of the company was changed to ‘Niva Bupa Health Insurance Company Limited’ pursuant to a fresh certificate of incorporation dated July 5, 2021 issued by the Registrar of Companies - Delhi. 

Further, the company was granted its first certificate to carry out the business of general insurance by a certificate dated February 15, 2010 given by the IRDAI which was renewed on an annual basis under Section 3A of the Insurance Act. Pursuant to an amendment to Section 3A of the Insurance Act with effect from December 26, 2014, the process of annual renewal of certificate of registration was discontinued. Accordingly, the certificate of renewal of registration as issued to the company on February 25, 2014 continues to be in effect.

The company is a standalone health insurer (SAHI) strategically focused on the retail health market. The company is one of India’s largest and fastest growing SAHIs. It also offers personal accident and travel insurance products to its customers. Its purpose is to ‘give every Indian the confidence to access the best healthcare’. It aims to achieve this purpose through its health insurance products and services that enable customers to navigate their healthcare journey, by providing them access to a holistic health ecosystem.

Responding to the evolving needs of its customers years of operations, it has built a track record of product innovation catering to a range of customer groups. It offers its customers the ability to access a comprehensive health ecosystem and service capabilities via its ‘Niva Bupa Health’ mobile application and website, thereby offering them a holistic proposition. This application provides its customers access to a range of healthcare solutions including diagnostics, digital consultation, annual health check-ups and health education content. Customers can also undertake claims submission, policy servicing and track health parameters through this application. Through its diverse and evolving product suite and its ‘Niva Bupa Health’ mobile application and website, it aims to provide its customers access to a range of healthcare and disease management solutions.

Business area of the company

The company is a standalone health insurer (SAHI) strategically focused on the retail health market. It also offers personal accident and travel insurance products to its customers.

Products of the company 

• ReAssure 2.0
• Aspire
• Smart Health +
• Travel Assure
• Senior First
• Health Recharge
• Health Premia (Platinum)

Awards and accreditations

• 2022: Recognised as a ‘Swift & Prompt Insurer’ at the Economic Times Insurance Summit & Awards. 
• 2022: Awarded ‘Product Innovator of The Year - Health Insurance’ at the 3rd Annual BFSI Technology Excellence by Quantic India. 
• 2022: Recognised as one of the Best BFSI Brands of 2022 by Economic Times. 
• 2022: Certified as a ‘Great Place to Work’ for the period January 2021 to January 2022, and recognized amongst the ‘Best Workplaces in BFSI’ in India in January, 2022.
• 2023: Recognised as a ‘Swift & Prompt Insurer’ in the Health Insurance category at the Times Insurance Summit & Awards. 
• 2023: Declared winners under the ‘Highest Growth - SAHI’ and ‘Overall Achievement-SAHI’ categories at ASSOCHAM 15th Global Insurance Summit & Awards. 
• 2023: Awarded the ‘CX Strategy of the Year’ at the 14th edition of the CX Strategy Summit & Awards 2023.
• 2023: Received the ‘Golden Peacock Award for ESG’. 
• 2023: Recognised as one of the Best BFSI Brands of 2023 by Economic Times. 
• 2023: Certified as a ‘Great Place to Work’ for the period January 2022 to January 2023, and recognized amongst the ‘Top 50 India’s Best Workplaces in BFSI’ in 2023.
• 2024: Recognised as one the Best BFSI Brands by Economic Times. 
• 2024: Awarded ‘Best Use of Technology to Enhance Contact Centre Operations in Health Insurance’ at the 3rd Annual Excellence Awards hosted by Quantic. 
• 2024: Awarded ‘Fraud Prevention Insurance Company of the Year’ at the India Insurance Summit and Awards 2024. 
• 2024: Recognised as the ‘Gold Winner’ for ‘Healthcare Insurance Company of the Year’ at the 14th India Digital Awards hosted by the Internet And Mobile Association of India. 
• 2024: Awarded ‘Best Claims Settlement’ and ‘Best Health Insurance Company of the Year’ at the InsureNext Conference & Awards. 
• 2024: Awarded ‘Best Health Insurer’ among standalone health insurance companies at the Mint BFSI Awards. 
• 2024: Certified as a ‘Great Place to Work’ for the period January 2023 to January 2024, and recognized amongst the ‘Top 25 India’s Best Workplaces in BFSI’ in 2024.

History and milestones

• 2008: The company was incorporated in September 2008 as a joint venture between Max India Limited and Bupa Singapore Holdings Pte. Ltd. 
• 2010: The company was granted registration certificate by the IRDAI to carry general insurance business in February, 2010. 
• 2016: Bupa Singapore Holdings Pte. Ltd. increased its shareholding in the company from 26% to 49% following relaxation in FDI norms, in July 2016. 
• 2019: Fettle Tone LLP became a shareholder in the company pursuant to the acquisition of Equity Shares of the company from Max India Limited and Bupa Singapore Pte. Ltd.
• 2021: Pursuant to the acquisition of the Equity Shares of the company by Fettle Tone LLP from Max India Limited, the company changed its name from ‘Max Bupa Health Insurance Company Limited’ to ‘Niva Bupa Health Insurance Company Limited’ in July 2021 
• 2021: The company raised Rs 1,500 million of subordinated debt by issuing non-convertible debentures.
• 2022: The company raised Rs 1,000 million of subordinated debt by issuing non-convertible debentures. 
• 2023: The company raised Rs 8,000 million through preferential allotment of its Equity Shares to Paragon Partners Growth Fund II, V-Sciences Investments Pte Ltd, India Business Excellence Fund IV, and SBI Life Insurance Company Limited in December 2023. 
• 2024: The company became a subsidiary of Bupa Singapore Holdings Pte. Ltd. upon its acquisition of 366,381,439 Equity Shares of the company from Fettle Tone LLP