Niva Bupa Health Insurance projects Rs 5,000-cr gross written premium by 2023-24, Health News, ET HealthWorld

Niva Bupa Health Insurance on Monday announced its mid-term growth target, projecting a gross written premium of Rs 5,000 crore by 2023-24. Niva Bupa MD and CEO Krishnan Ramachandran said the insurer has seen overwhelming growth in the past 24 months, and it is aggressively expanding its direct as well as digital partnership.

One of the leading standalone health insurance players, Niva Bupa Health Insurance Company (formerly Max Bupa Health Insurance Company) said it witnessed a steady growth of 31 per cent in 2019-20 and 41 per cent in 2020-21.

The company has achieved over 70 per cent growth YTD (year to date) in the current financial year.

“Niva Bupa aims to register Rs 5,000-crore gross written premium by FY23-24,” the company stated.

The insurer said it has been aggressively expanding its presence across Tier-II, III and IV cities, opening one new office every 3.5 days in the last year.

Currently, Niva Bupa has a presence in 350 cities that will further increase to over 600 cities by FY2023-24.

With this, Niva Bupa aims to bring 10 million people of the country under the ambit of health insurance by the end of FY24.

“We are aggressively expanding our direct and

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