Niva Bupa barred by IRDAI from opening new branches for 6 months

The Insurance Regulatory and Development Authority of India (IRDAI) has barred Niva Bupa Health Insurance from opening any new places of business for six months. According to the insurer's exchange filing, the directive was issued for non-compliance with expense of management (EoM) limits for FY25. Niva Bupa said the order will have no financial impact on the company.