Bupa delivered double-digit growth in members, revenue and profits in the first half of 2026, including increased insurance customer numbers and claims performance in the UK.
The group’s H1 2026 results showed insurance customers rose 12% to 49.7 million across all its geographies, with health provision customers up 8% to 15.5m and aged care occupancy remaining at 94%.
This strong customer growth and price increases contributed to revenue rising by 10% to £9.9bn, it said.
Overall, the insurer posted statutory profit after tax of £429m up 17% at actual exchange rates (AER), with underlying profit also up 24% to £594m by the same measure year-on-year.
Bupa Global, India and UK revenues rise
Bupa Global, India and UK market unit revenue increased by 11% to £3.1bn driven by customer growth and higher average premiums across the insurance businesses, particularly in the Niva Bupa operation in India.
It added it had seen higher customer volumes in provision following the acquisitions of King Edward VII Hospital and New Victoria Hospital in the UK.
Underlying profit for the operation rose 23% to £154m driven by revenue growth and improved margins.
The group said UK Insurance delivered growth in revenue and underlying profit with the increased performance driven by higher volumes and improved loss ratio, net of reduced investment income.
The Bupa Global international private medical insurance (IPMI) business posted increased revenue and underlying profit due to higher volumes and higher average premiums, net of reduced investment income.
Bupa Dental Care revenue and underlying profit was up due to improved margins as its clinics treated higher volumes of Bupa dental insurance customers, alongside strong Smile Plan performance and a disciplined focus on cost control, it noted.
UK Care Services, the firm’s aged care business, delivered growth in revenue and underlying profit through increasing occupancy to 92%, up from 90% in the same period last year, where there has also been a focus on disciplined cost management.
UK Health Services delivered growth in revenue which the group attributed to higher customer volumes and the acquisitions of King Edward VII Hospital and New Victoria Hospital. Underlying profit fell due to investments in these businesses to support future growth.
Spanish growth driving Europe and Latin America
The Europe and Latin America Market unit also delivered a double-digit growth in revenue and underlying profit.
Here revenue climbed 14% to £3.4bn, driven by price increases and customer growth with underlying profit increased by 29% to £262m, driven by revenue growth and higher margins.
The Spanish health insurance business Sanitas Seguros delivered strong revenue growth through price increases and higher customer volumes. Underlying profit increased as a result of the higher volumes.
The group’s Spanish dental business also saw revenue and underlying profit driven by higher customer volumes and improved margins.
The Spanish hospital business saw revenues increase due to strong customer growth driven by higher levels of activity and footprint expansion. Profit was flat as the strong volume growth was offset by the impact of expansion.
And Sanitas Mayores, it’s aged care business in Spain, increased revenues due to capacity expansion, with two new care homes in 2026 while underlying profit remained stable year on year.
In Poland, LUX MED’s revenue and underlying profit increased, driven by margin improvement and strong growth in the number of health insurance customers, generating more activity in the group’s medical centres, hospitals and dental centres.
In Chile, revenue and underlying profit rose, driven by the increased activity in hospitals and medical centres, and stability within Isapre, with a positive impact on customer numbers and prices.
Bupa Acıbadem Sigorta, the firm’s health insurance business in Türkiye, reported growth in revenue and underlying profit.
Care Plus in Brazil delivered strong revenue and underlying profit growth from higher customer volumes, while the loss ratio and investment returns also saw improvement.
While Bupa Mexico delivered revenue growth driven by customer growth in insurance, underlying profit reduced as the improved business performance was offset by the impact of new tax legislation denying the recoverability of VAT borne on hospital and medical expenses.
Bupa Global Latin America revenue and underlying profit increased due to improved customer retention and growth in new sales.
Muted growth across Asia Pacific
Growth was more muted in the Asia Pacific business, however, where revenue rose by 5% to £3.4bn driven by price increases and customer growth, supported by the expansion of our health provision network while occupancy levels in its aged care businesses remained high. Underlying profit increased by 5% to £270m.
Australia Health Insurance grew revenue and underlying profit against a headwind from reduced investment income.
Domestic market share was 25.6% for the quarter to March 2026, marking more than three consecutive years of maintaining or growing market share in a highly competitive environment.
Australia Health Services revenue and underlying profit increased, driven by growth in customer volumes along with the expansion of our provision network.
The group noted it has added a further two medical centres since the end of its previous financial year.
In aged care, Australia Villages and Aged Care delivered revenue growth supported by higher resident fees, and sustained high occupancy at 95%, with underlying profit broadly in line with the prior year.
The group’s Hong Kong business achieved revenue and underlying profit growth, from an improved loss ratio and customer retention in insurance along with higher volumes across our provision business.
Iñaki Ereño, CEO of Bupa Group, said: “We are at the halfway point of our 3×100 Strategy and we are encouraged to see more customers than ever choose Bupa which is driving strong performance as we scale the business.
“This is enabling us to invest further in our digital and in-person health provision to make it even easier for our customers to access high-quality care in a way that’s convenient for them.”