Treading a fine line

BS PEOPLE: Sandeep Bakhshi

Sandeep Bakhshi is joining ICICI Prudential as Managing Director & CEO at a time when the industry is going through fundamental changes. His main challenge: to create equilibrium between cost and profitability from new sales.

Having spearheaded ICICI Bank’s general insurance business, Bakhshi isn’t new to the insurance world. Under his leadership, ICICI Lombard became the largest private sector non-life insurance company in the country.

As MD & CEO of the largest life insurance company in terms of assets, Bakhshi will have to chart out a route to sustaining profitability, keeping growth from new businesses in focus. With the new norms on unit-linked insurance plans kicking in from September 1, insurers are drawing up ways to reduce costs as well as increase their business.

Bakhshi’s association with the group goes back to 1986 when he joined in the project financing department, before joining ICICI Lombard in January 2002. Last year, he was assigned corporate banking as Deputy Managing Director. An MBA from XLRI and an engineer by education, colleagues describe him as a very practical person and open to ideas. He is known for his people management skills, which will be put to the test in his new assignment.