Niva Bupa Health Insurance Company Limited announced the sudden demise of its Non-Executive Director, Roger William John Davis, on October 17, 2026. The company received intimation of his passing from his office on October 19, 2026.

Consequent to his death, Davis ceases to be a member of the Risk Management Committee of the Board with immediate effect. The company disclosed this development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Professional contributions

During his tenure, Davis contributed to the strategic direction, growth, and governance of the insurer. The company noted that he brought wisdom and a balanced perspective, along with an unwavering belief in the organization’s purpose and people. His association was marked by a passion for India and its vision.

The Board, management, and employees extended condolences to his family and friends. The disclosure confirms that the reason for cessation is death, with no other relationships between directors applicable.

The information has been made available on the company’s website for public record.

Niva Bupa Health Insurance Company has issued the formal call option notice for the redemption of ₹150 crore in non-convertible debentures at par value. The insurer exercised its call option on these instruments, originally issued in November 2021, with the payment date fixed for November 13, 2026.

The Debt Raising Committee of the Board approved the exercise of the call option during its meeting on October 9, 2026. Subsequently, the company filed an intimation with the National Stock Exchange of India and BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Regulation 15(7) of the SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021.

Redemption details and timeline

The redemption involves 1,500 unsecured, subordinated, listed, rated, redeemable, non-convertible debentures. These securities bear a coupon rate of 10.70% and were allotted on November 15, 2021. The total aggregate value of the debentures up for redemption is ₹150 crore. The security is identified as "10.70% Niva Bupa Health Insurance 2031".

The company has set November 2, 2026, as the record date for determining eligible debenture holders. This date was selected because the original record date of October 31, 2026, fell on a non-business day. Consequently, the immediately succeeding business day was adopted as per the Placement Memorandum. Trading in these debentures will be suspended after the record date.

Payment schedule and compliance

The call option date is fixed at five years from the deemed date of allotment, i.e., November 15, 2026. However, the interest and redemption payment date has been advanced to November 13, 2026. This adjustment ensures that the principal amount and accrued interest are paid on the immediately preceding business day, as November 15, 2026, falls on a non-business day.

The company confirmed that it does not require prior approval from the Insurance Regulatory and Development Authority of India (IRDAI) to exercise this call option, provided its solvency position remains above 180% post-redemption. Niva Bupa stated that its solvency margin will meet this regulatory requirement. A formal notice under the SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021, has been dispatched to debenture holders via electronic mode.

The notice regarding the meeting outcome and the subsequent call option notice were signed by Aparna Sharma, Company Secretary and Compliance Officer. Copies were sent to Axis Trustee Services Limited (Debenture Trustee), National Securities Depository Limited, Central Depository Services Limited, KFin Technologies Limited (Registrar), and CARE Ratings Limited.