IRDAI Bars Niva Bupa from Opening New Offices

The Insurance Regulatory and Development Authority of India (IRDAI) has prohibited Niva Bupa from opening new branches for six months due to a breach of expense management limits.

The regulator cited violations of the 'Expenses of Management' (EoM) norms, which mandate that insurers maintain operational costs within specified percentages of their premium income.

Niva Bupa must now focus on cost-restructuring and compliance to resume expansion, as the order restricts their ability to scale business operations until the penalty period concludes.