ICICI Lombard General Insurance has announced the appointment of Sanjeev Mantri as Managing Director and Chief Executive Officer, according to a filing with the exchanges on September 24. Mantri presently serves as Executive Director of the company.
ICICI Lombard General Insurance has announced that Mantri will take on the position of MD and CEO starting from December 1 or upon IRDAI approval for a five-year term or until his retirement pending IRDAI and shareholder approval.
With a career spanning over 28 years, Mantri started his journey at Bennett Coleman and Co, held leadership roles at BNP Paribas and spent over 20 years with the ICICI Group, initially at ICICI Bank in 2003 while overseeing various sectors including small & medium enterprises and rural and inclusive banking.
He joined ICICI Lombard in 2015 as Executive Director overseeing the retail division, responsible for product distribution across various channels. In this role, Mantri played a vital role in enhancing the company's revenue, profitability, and stock exchange listing, as well as the merger with Bharti Axa and the integration process.
He will succeed Bhargav Dasgupta, who left his role as MD and CEO on September 21 after spending 14 years with the company to pursue an international career opportunity.
On September 22, the Asian Development Bank (ADB) appointed Dasgupta as Vice-President of market solutions for a three-year term. In his new role, Dasgupta will oversee ADB's Private Sector Operations Department and Office of Markets Development and Public–Pivate Partnerships.
During his earlier years at ICICI Bank, Dasgupta held key positions in project finance, corporate banking, treasury, e-commerce, international banking and insurance. He played a pivotal role in ICICI's global expansion and insurance business growth, establishing international operations in 14 countries.
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