Niva Bupa Health Insurance Company on Tuesday said it has received approval from the Insurance Regulatory and Development Authority of India (IRDAI) for the appointment of Ashwani Bhatia, former Whole-Time Member at the Securities and Exchange Board of India (SEBI), as chairperson of the company.
The approval was conveyed through an IRDAI letter dated August 10, 2026, and is effective from June 3, 2026, the insurer said in a regulatory filing.
Bhatia succeeds Milind Gajanan Barve, who resigned as an independent director and chairman of the board effective June 2, 2026, citing persistent health issues.
Bhatia has over four decades of experience across financial markets, banking, regulatory governance, asset management and investment banking. He served as a whole-time member of the Securities and Exchange Board of India (SEBI) from June 2022 to May 2025.
Prior to joining SEBI, Bhatia spent 37 years with the State Bank Group, including serving as managing director (Corporate Banking & Global Markets) at State Bank of India and managing director & CEO of SBI Funds Management.
