Private non-life insurer Bajaj Allianz today announced the appointment of Hemant Kaul as the new CEO of the company.

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"The board of Bajaj Allianz General Insurance has approved the appointment of Hemant Kaul as the new CEO. The change would be effective from December one, 2009 and is subject to IRDA approval," the insurer said in a release.

He earlier was the executive director with private sector lender Axis Bank.

Besides Kaul's appointment, the company has also made some internal restructuring.

Tapan Singhel, who is currently the company's President, will be elevated to the post of Chief Marketing Officer and would be looking after agency, bancassurance and travel channels.

The insurance company is a joint venture between Bajaj Finserv, which holds 74 per cent stake, and Allianz SE which holds the remaining 26 per cent.

Bajaj Allianz has garnered premium of Rs 1,218 crore in the first half of the current fiscal and a profit after tax of Rs 54 crore.

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