Niva Bupa Board Approves New Appointments, Elevates Officer, and Grants ESOPs

Niva Bupa Board Approves New Appointments, Elevates Officer, and Grants ESOPs​

Niva Bupa Health Insurance Company Limited announced key corporate governance updates following its Board meeting on May 08, 2026. The Board approved the appointment of two new Additional Directors, the elevation of an existing executive officer, the grant of a significant number of Employee Stock Options (ESOPs), and noted the resignations of two Non-Executive Directors.

Key Director Appointments​

The Board, based on the recommendation of the Nomination & Remuneration Committee, approved the appointment of two individuals as Additional Directors, effective May 15, 2026.

Mr. Christopher Patrick Carroll (DIN: 11527069) was appointed as an Additional Director (Non-Executive Director). Mr. Carroll, who is associated with BUPA since November 2020, recently became the CEO of Bupa Global, India & UK on January 1, 2026. His professional background includes serving as CEO of WS Audiology - Asia Pacific and holding executive positions at Medibank.

Similarly, Ms. Siobhan Djihan Moynihan (DIN: 11408509) was appointed as an Additional Director (Non-Executive Director). Ms. Moynihan has been with BUPA since 2022, serving as the CFO of Bupa Global, India and UK. Her career history includes roles as Finance Director at Resolution Life Group and having worked at Deloitte for ten years.

The Board confirmed that neither Mr. Carroll nor Ms. Moynihan are related to any current directors of the Company.

Officer Elevation and Role Changes​

Effective May 08, 2026, the Board also approved the elevation of Mr. Ankur Kharbanda to the position of Executive Director and Deputy Chief Executive Officer. Mr. Kharbanda is currently designated and serving as Executive Director and Chief Business Officer. Since joining the Company in April 2020, Mr. Kharbanda has been responsible for Sales & Distribution and brings over two decades of experience in the health insurance space.

Employee Stock Option Grant​

Furthermore, the Board approved the grant of 12,251,268 Employee Stock Options (ESOPs) to eligible employees under the Niva Bupa Employee Stock Option Plan 2024.

Details regarding the ESOP allocation are as follows:

Director Resignations​

The Board also recorded the resignations of two Non-Executive Directors, effective close of business hours on May 08, 2026.

Ms. Penelope Ruth Dudley (DIN: 09025006) and Mr. Carlos Antonio Jaureguizar Ruiz-Jarabo (DIN: 10581062) submitted their resignations. Both directors cited the resignation as being due to the paucity of sufficient time to devote towards the affairs of the Company on account of their other professional commitments.

NIVABUPA Stock Price Movement​

Today, Niva Bupa Health Insurance Company Limited shares edged higher, closing at ₹81.29, which reflected a 1.56% gain for the trading day. The equity settled on a notable volume of 3.14 million shares, finishing within an intraday range defined by a low of ₹79.75 and a high of ₹81.8.