IRDAI has barred Niva Bupa Well being Insurance coverage Firm from opening any new administrative center for six months from August 19, 2026, over non-compliance with relevant Expense of Administration limits for FY25
The Insurance coverage Regulatory and Improvement Authority of India (IRDAI) has barred Niva Bupa Well being Insurance coverage Firm from opening any new administrative center for six months from August 19, 2026.
The regulator has additionally warned the insurer on non-compliance with relevant Expense of Administration (EoM) limits for monetary yr 2024-25 and directed it to not add any new branches. The order follows a proof sought by IRDAI from the Firm concerning its EoM limits for FY 2024-25, to which the Firm had made submissions.
“The Firm is evaluating the order and can take applicable steps to safeguard the curiosity of stakeholders,’’ the insurer mentioned in a disclosure to BSE on Thursday.
“The corporate is in compliance with the IRDAI (Bills of Administration, together with Fee of Insurers) Laws, 2024 for the total Monetary 12 months ended March 31, 2026 in addition to for the interval Q1 ended June 30, 2026 and is on observe to make sure compliance with the mentioned EoM Laws, 2024 for the total Monetary 12 months ending March 31, 2027,’’ it mentioned.
In one other order, the insurance coverage regulator had additionally barred Acko Normal Insurance coverage from opening new locations of enterprise for six months. It additionally warned the insurer for its failure to make sure compliance with the relevant EoM limits for the FY 2024-25 and is directed to not open new administrative center for a interval of six months from the date of the order.
Revealed on August 20, 2026
