Niva Bupa well placed to ride growth in health insurance
[hfe_template id='11223']
[ad_1]
Niva Bupa Health Insurance, a standalone health insurance company, plans to raise Rs 800 crore through fresh equity to augment the capital base and Rs 1,400 crore through an offer for sale by the promoter group. The stake of Bupa Singapore Holdings will fall to 56% from 62.2% after the IPO while private equity firm True North will reduce its stake to 17.5% from 26.8%. According to IRDAI data, the share of health insurance in the gross direct premium income (GDPI) of general insurers has expanded gradually to 37.1% in FY24 from 24.6% in FY18. The health insurance GDPI grew by 19.5% annually during the period to ₹1.1 lakh crore from ₹37,000 crore. It is likely to double by FY29 according to industry estimates. This underscores the rising importance of and future scope for the health insurance segment. ET Bureau Given its pan-India presence, Niva Bupa is well-placed to take advantage of the opportunity. On the other hand, investors may recal...