The Insurance Regulatory and Development Authority of India has approved the reappointment of Krishnan Ramachandran as chief executive officer and managing director of Niva Bupa Health Insurance Ltd., according to an exchange filing on Wednesday.
His tenure for the health insurance firm will be for a period of five years, starting from May 1 to April 30, 2030. The company's board of directors has approved Ramachandran's reappointment earlier.
Ramachandran has been associated since April 2020. He has up to 24 years of experience in health insurance, healthcare as well as life sciences industries.
He had previously served as the CEO for Deloitte Consulting L.P. and Arthur Andersen. He also was chief operating officer at Apollo DKV Insurance Co.
Ramachandran holds a Bachelor's of Technology degree in Electrical and Electronic Engineering from Indian Institute of Technology, Madras, along with a postgraduate diploma in management from the Indian Institute of Management, Calcutta.
Shares of Niva Bupa Health Insurance closed 7.96% higher at Rs 83.77 apiece, compared to a 0.67% uptick in the benchmark Nifty. The share price has risen 13.2% in the last 12 months and fallen 0.4% for year-to-date.
Four out of the five analysts tracking the company have a 'buy' rating on the stock and one suggests 'hold', according to Bloomberg. The stock's return potential was at 2.9%.
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