ICICI Lombard veteran Sanjeev Mantri is the new MD & CEO
Sanjiv Mantri, Executive Director of ICICI Lombard General Insurance Limited has been appointed as Managing Director and CEO following the resignation of Bhargav Dasgupta last week. With effect from December 1, 2023, or the date of approval from the Insurance Regulatory and Development Authority of India (IRDAI), whichever is later for the period of 5 consecutive years or his date of retirement whichever is earlier, subject to the approval of IRDAI and the Members of the Company.
He will replace Bhargav Dasgupta who resigned recently. Dasgupta’s resignation is attributed to the new rule limiting the CEO’s term to a maximum of 15 years. He’s now joining the Asian Development Bank. He was due to complete 15 years as CEO in April 2024.
Sanjeev Mantri has an experience of 28 years. He started his career with Bennett Coleman and Co., followed by key leadership positions at BNP Paribas. He has been with the ICICI Group for over 20 years beginning his career with ICICI Bank in 2003, he led many businesses including the Bank’s Small & Medium Enterprises Group and the Rural and Inclusive Banking Group. He joined ICICI Lombard in 2015 as Executive Director, since then has been responsible for the distribution of products across motor dealerships, agency, bancassurance, direct and alternate channels and in charge of strategy, products, analytics, pricing, marketing, and corporate communication verticals of the Company. As an Executive Director has significantly contributed towards the growth of the Retail business and improved the Company’s position in terms of revenue and profitability in the general insurance sector. He played a key role in the listing of the shares and the merger of erstwhile Bharti Axa with the Company and the integration process therewith.