Bupa Group will continue its long-standing commitment to India, to support Niva Bupa serving even more customers with their healthcare needs.
Iñaki Ereño, Bupa Group CEO, said: “This is an important achievement for everyone at Bupa and a significant milestone for Niva Bupa. We’re committed to our investment in India and we’re so proud that Niva Bupa has grown into a successful business becoming the third largest standalone health insurer in India, a testament to the hard work of the excellent local management team. We’re excited to see this next evolution of the company as it becomes a listed business, bringing even more opportunities to help transform healthcare for our Indian customers in the years to come.”
Carlos Jaureguizar, CEO for Bupa Global, India and UK, said: “Niva Bupa has grown over the years thanks to the care and commitment given by all our colleagues in India. Today’s IPO is an exciting next step in Niva Bupa’s growth where, through its continued development of innovative solutions, customer centricity and digital capabilities, we will support more people with their healthcare needs to live well for longer.”
14 November 2024: Bupa Group’s Niva Bupa Health Insurance Company Limited, has today successfully completed an Initial Public Offering (IPO) on the National Stock Exchange of India (NSE). The total issue size, comprising of a sale of new and existing shares, was INR2,200 crore (c.£200 million) representing c16% of Niva Bupa’s share capital. In January 2024, Bupa became the majority shareholder in what is one of India’s largest and fastest growing standalone health insurers in the retail segment – now, it is embarking on the next stage with Niva Bupa becoming a listed business.
Bupa, the international healthcare company, has been an active investor in the Indian healthcare market since 2008 when it became a founding shareholder in what was then known as Max Bupa. Niva Bupa is also backed by Fettle Tone LLP, which is controlled by True North. In January 2024, Bupa reaffirmed its commitment to India’s growing market with its continued investment in India and became the majority shareholder in Niva Bupa. Bupa will remain a majority shareholder following the IPO.
With the backing of Bupa Group, Niva Bupa has grown to become the third-largest standalone health insurer in India in the retail segment with over 14.99m people insured (as of 30 June 2024). Niva Bupa has had a strong growth trajectory over the last few years and made its business increasingly digital and customer-centric.
Bupa is supportive of today’s IPO which will enable Niva Bupa’s ongoing sustainable growth and provide continued investment to support the business today and with their ambitions for the future. Alongside this, there are opportunities to learn from Bupa’s experience in other markets to create a sustainable healthcare system for the benefit of future generations.
About Bupa
Established in 1947, Bupa's purpose is helping people live longer, healthier, happier lives and making a better world. We are an international healthcare company serving over 50 million customers worldwide. With no shareholders, we reinvest profits into providing more and better healthcare for the benefit of current and future customers. Bupa has businesses around the world, principally in the UK, Australia, Spain, Chile, Poland, New Zealand, Hong Kong SAR, Türkiye, Brazil, Mexico and India. We also have associate businesses in Saudi Arabia.
Enquiries
Molly Morgan: [email protected]
Duncan West: [email protected]
Important information
The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Niva Bupa Health Insurance Company Limited does not intend to register any of the securities in the United States or to conduct a public offering of the securities in the United States.
