Niva Bupa Health Insurance saw its stock close 8% higher at ₹83.76 on Wednesday following a significant announcement regarding its leadership.

IRDAI Approves CEO Reappointment

The Insurance Regulatory and Development Authority of India (IRDAI) has granted approval for the reappointment of Krishnan Ramachandran as the Chief Executive Officer (CEO) and Managing Director of Niva Bupa Health Insurance. This decision extends Ramachandran's tenure for a five-year term, effective from May 1, 2025, to April 30, 2030.

Regulatory Compliance and Approval Process

According to the company's disclosure to the stock exchanges, the reappointment was subject to IRDAI approval following earlier approvals from:

• Board of Directors on February 4, 2025
• Shareholders on March 28, 2025

The final approval from IRDAI was received on April 22, 2025, at 18:23 hours.

Market Response

The market responded positively to this news, with Niva Bupa's stock price climbing 8% to close at ₹83.76 on Wednesday. This uptick suggests investor confidence in the company's leadership continuity.

Company Background

Niva Bupa Health Insurance Company Limited, registered with IRDAI (Registration No. 145), is a prominent player in the Indian health insurance sector. The company's corporate office is located in Gurugram, Haryana, while its registered office is in Delhi.

Regulatory Disclosure

The company has made this disclosure in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The detailed information, including the approval letter from IRDAI, has been made available on the company's website at www.nivabupa.com .

This reappointment of Krishnan Ramachandran as CEO and Managing Director for an extended term signals stability in Niva Bupa's top management, which appears to have been well-received by the market.

Niva Bupa Health Insurance Company Limited , a prominent player in the Indian insurance sector, has made a strategic investment of ₹50 crore in BIMA Sugam India Federation, according to a recent regulatory filing. This move signals the company's commitment to expanding its digital footprint and enhancing its presence in the evolving insurance marketplace.

Investment Details

The company disclosed that it has acquired 5,000,000 equity shares of BIMA Sugam India Federation at ₹10 per share, totaling an investment of ₹50 crore. This acquisition represents a 1.51% stake in BIMA Sugam, positioning Niva Bupa as a key stakeholder in this innovative platform.

Investment Summary

| Detail | Value | |:----------------------|:--------------|| | Number of Shares | 5,000,000 | | Price per Share | ₹10 | | Total Investment | ₹50 crore | | Stake Acquired | 1.51% |

About BIMA Sugam India Federation

BIMA Sugam India Federation is a not-for-profit company incorporated on June 18, 2024, under Section 8 of the Companies Act, 2013. It was established in compliance with Regulation 4(a) of the IRDAI (Bima Sugam – Insurance Electronic Marketplace) Regulations, 2024. The federation aims to create a unified digital marketplace that seamlessly connects customers, insurers, and intermediaries, with the goal of fostering financial security nationwide.

Strategic Implications

This investment aligns with the growing trend of digitalization in the insurance sector. BIMA Sugam is positioned to become a significant online market for insurance products and services in India, offering a platform that could potentially transform how insurance is bought and sold in the country.

Key Benefits

• Enhanced digital presence for Niva Bupa
• Access to a unified insurance marketplace
• Potential for improved customer engagement
• Participation in industry-wide digital transformation

Regulatory Compliance

Niva Bupa Health Insurance Company Limited, listed on the National Stock Exchange (Symbol: NIVABUPA) and BSE Limited (Scrip Code: 544286), made this disclosure in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Industry Impact

The investment in BIMA Sugam India Federation reflects the insurance industry's shift towards digital platforms and customer-centric solutions. As more insurers participate in such initiatives, it could lead to:

• Increased transparency in insurance offerings
• Improved efficiency in policy distribution
• Enhanced accessibility for customers
• Streamlined processes for insurers and intermediaries

This strategic move by Niva Bupa Health Insurance demonstrates the company's forward-thinking approach and its commitment to embracing technological advancements in the insurance sector. As the BIMA Sugam platform develops, it will be interesting to observe how it transforms the landscape of insurance distribution and customer engagement in India.