The Insurance Regulatory and Development Authority of India (IRDAI) has barred Niva Bupa Health Insurance Company from opening any new place of business for six months from August 19, 2026.
The regulator has also warned the insurer on non-compliance with applicable Expense of Management (EoM) limits for financial year 2024-25 and directed it not to add any new branches.
The order follows an explanation sought by IRDAI from the Company regarding its EoM limits for FY 2024-25, to which the Company had made submissions.
“The Company is evaluating the order and will take appropriate steps to safeguard the interest of stakeholders,’’ the insurer said in a disclosure to BSE on Thursday.
In another order, the insurance regulator had also barred Acko General Insurance from opening new places of business for six months.
The Insurance Regulatory and Development Authority of India (IRDAI) has barred Niva Bupa Health Insurance Company from opening any new place of business for six months from August 19, 2026.
The regulator has also warned the insurer on non-compliance with applicable Expense of Management (EoM) limits for financial year 2024-25 and directed it not to add any new branches. The order follows an explanation sought by IRDAI from the Company regarding its EoM limits for FY 2024-25, to which the Company had made submissions.
“The Company is evaluating the order and will take appropriate steps to safeguard the interest of stakeholders,’’ the insurer said in a disclosure to BSE on Thursday.
“The company is in compliance with the IRDAI (Expenses of Management, including Commission of Insurers) Regulations, 2024 for the full Financial Year ended March 31, 2026 as well as for the period Q1 ended June 30, 2026 and is on track to ensure compliance with the said EoM Regulations, 2024 for the full Financial Year ending March 31, 2027,’’ it said.
In another order, the insurance regulator had also barred Acko General Insurance from opening new places of business for six months. It also warned the insurer for its failure to ensure compliance with the applicable EoM limits for the FY 2024-25 and is directed not to open new place of business for a period of six months from the date of the order.
Published on August 20, 2026
