ICICI Lombard Approves Appointment Of Sanjeev Mantri As MD & CEO

ICICI Lombard General Insurance Company Ltd. said its board approved the appointment of Sanjeev Mantri as managing director and chief executive officer of the company.

Mantri is currently executive director of the company and his appointment as MD & CEO will be effective from 1 December or the date of approval from Insurance Regulatory and Development Authority of India (IRDAI), whichever is later, ICICI Lombard said in a stock exchange announcement.

The appointment of Mantri will be for five years or his date of retirement, whichever is earlier, it added.

The company said Mantri, in a career spanning over 28 years, began his career with Bennett Coleman and Company, followed by key leadership positions at BNP Paribas.

Mantri has been with the ICICI Group for over 20 years, beginning his career with ICICI Bank in 2003, where he led many businesses, including the bank’s Small & Medium Enterprises Group and the Rural & Inclusive Banking Group, according to the statement. Mantri joined ICICI Lombard in 2015 as executive director, spearheading the retail division of the company, it said.

The development comes after the current MD & CEO Bhargav Dasgupta resigned to pursue a career opportunity outside the country.

The ICICI Bank-backed insurer said Dasgupta will manage his current responsibilities until the close of business hours on 30 November.

Dasgupta will join the Asian Development Bank (ADB) as vice president of market solutions for three years. He will be responsible for management of the operations of ADB’s Private Sector Operations Department and Office of Markets Development and Public-Private Partnerships.

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