Bidding in the initial public offer of standalone health insurer Niva Bupa Health Insurance Company ended yesterday with a total subscription rate of 180%.
IRDAI chairman Debasish Panda is pitching for 100% foreign direct investment (FDI) in the insurance sector, saying a huge amount of capital is needed to achieve the goal of 'Insurance for All by 2047'.
Rural households in India have shown an increase in the take-up of insurance coverage, with the proportion of households with at least one-member insured surging from 25.5% 2016-17 to 80.3% in 2021-22.
Total health GDPI is expected to reach up to INR2.0tn ($23.7bn) by the financial year ending 31 March 2028 (FY2028), according to Bupa Niva Health Insurance in its draft red herring prospectus as the insurer launches an initial public offer.
Retail health insurance currently accounts for around 39% of the overall health insurance, having grown at a CAGR of 17.7% between FY2018 and FY2024 (fiscal year ended 31 March 2024), according to Bupa Niva Health Insurance in its draft red herring prospectus as the insurer launches an initial public offer.
Niva Bupa Health Insurance Company has announced the price band for its upcoming IPO at INR70 ($0.83) to INR74 per share. The nominal value of each share is INR10.
Niva Bupa Health Insurance Company is launching an initial public offer comprising a fresh issue of equity shares worth INR8bn ($95m) and an Offer for Sale (OFS) amounting to INR14bn, totaling INR22bn.
M&As are expected to dominate the next phase of growth in the Indian insurance industry, according to a report by the Confederation of Indian Industry (CII) and professional services firm KPMG in India.
Lockton, a globally renowned, privately held insurance brokerage firm, has been granted regulatory approval by the IRDAI to acquire Arihant Insurance Broking Services.
The board of the IRDAI has approved a timetable to hire 120 management officials at the assistant manager (AM) level in the next three years to cope with the growing workload at the regulator.