Niva Bupa Health Insurance Company Limited was originally incorporated as Max Bupa Health Insurance Limited' at New Delhi, Delhi as a Public Limited Company dated September 5, 2008, issued by the Assistant Registrar of Companies and was granted its Certificate for Commencement of Business on December 23, 2008 by the Deputy Registrar of Companies, NCT of Delhi and Haryana. Thereafter, the Company name was changed to Max Bupa Health Insurance Company Limited', dated July 30, 2009 and again the Company name 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.
The Company is a standalone health insurer (SAHI) strategically focused on the retail health market. The Company underwrites primarily Health Insurance business which includes Personal accident, Critical illness and Travel. The Company is a joint venture between Bupa Singapore Holdings Pte Ltd, Singapore and Fettle Tone LLP. Bupa Singapore Holdings Pte Ltd is the holding Company with 63% shareholding.
The Company incorporated in September 2008 as a joint venture between Max India Limited and Bupa Singapore Holdings Pte. Ltd. The Company obtained regulatory approval to undertake Health Insurance business on 15th February 2010 from Insurance Regulatory and Development Authority of India (IRDAI and started selling Policies in March 2010.
Bupa Singapore Holdings Pte. Ltd. increased its shareholding in the Company from 26% to 49% in July 2016. Through acquisition of Equity Shares of the Company from Max India Limited and Bupa Singapore Pte. Ltd., Fettle Tone LLP became a shareholder in the Company in 2019.
The Company became a subsidiary of Bupa Singapore Holdings Pte. Ltd. by acquiring 366,381,439 Equity Shares of the Company from Fettle Tone LLP in 2024.
The Company is planning the to raise money from public through Initial Public Offering aggregating Rs 3000 Crores Equity Shares, comprising a Fresh Issue of Rs 800 Cr and an Offer for Sale of Rs 2200 Cr Equity Shares.