ICICI Lombard General Insurance appoints Sanjeev Mantri as MD & CEO

ICICI Lombard General Insurance Company on Sunday appointed Sanjeev Mantri as the managing director (MD) and chief executive officer (CEO) of the company.

He will take over from Bhargav Dasgupta, who will be officiating his duties until the close of business hours on 30 November 2023.

Mantri will take charge from 1 December 2023, or the date of approval from the Insurance Regulatory and Development Authority of India (IRDAI), whichever is later, and serve for a period of five years or his date of retirement, whichever is earlier, subject to approval from the IRDAI.

"The board of directors, based on the recommendation of the Board Nomination and Remuneration Committee, have approved the appointment of Sanjeev Mantri, presently executive director of the company, as managing director and CEO of the company with effect from 1 December 2023 or the date of approval from the Insurance Regulatory and Development Authority of India (IRDAI), whichever is later, for a period of five consecutive years or his date of retirement, whichever is earlier, subject to approval of IRDAI and the members of the company," the exchange filing stated.

Mantri, who is a cost and chartered accountant, has over 20 years of experience and has held key leadership positions with BNP Paribas and ICICI Bank. Currently, he serves as the executive director of the general insurer.

He is in charge of the retail division of ICICI Lombard and is responsible for the distribution of products across agency, bancassurance, direct and alternate channels. He also heads the strategy, products, analytics, pricing, marketing and corporate communication segments in the company.

The current MD and CEO, Dasgupta, tendered his resignation on 21 September 2023, after over 14 years of service, in order to pursue career opportunities outside India. He has been appointed as the Vice-President of Market Solutions of Asian Development Bank for a period of three years.