In a significant leadership transition, the board of ICICI Lombard has appointed Sanjeev Mantri, a veteran executive director within the organization, as the new Managing Director and Chief Executive Officer (MD & CEO). This development follows the recent resignation of Bhargav Dasgupta, who had served as MD & CEO and decided to step down ahead of completing 15 years in the role, in line with the new regulations limiting CEO tenures. Bhargav Dasgupta is set to embark on a new journey as he joins the Asian Development Bank.
Sanjeev Mantri’s appointment is poised to usher in a new era of leadership at ICICI Lombard, one of India’s leading insurance providers. Mantri has been entrusted with a five-year term, extendable until retirement, pending approval from the Reserve Bank of India (RBI). His extensive experience and contributions to the company make him well-suited to guide ICICI Lombard into the future.
Mantri’s journey with ICICI Lombard commenced in 2015 when he joined as an executive director, assuming responsibility for overseeing the retail divisions and spearheading distribution efforts across various channels. His leadership played a pivotal role in facilitating the company’s successful listing. Over the years, Mantri has demonstrated a deep understanding of the insurance industry and a strong commitment to the company’s growth and success.
The transition in leadership comes at a time when ICICI Lombard continues to be a prominent player in the insurance sector, offering a wide range of insurance products and services to its customers. As the insurance landscape evolves and customer expectations change, having a leader with a track record of innovation and strategic thinking is crucial.
Sanjeev Mantri’s appointment reflects ICICI Lombard’s commitment to stability and growth, ensuring continuity in its leadership while embracing fresh perspectives and ideas. With his extensive industry knowledge and experience, Mantri is well-positioned to lead the company forward and drive its vision of providing comprehensive and accessible insurance solutions to individuals and businesses across India.
The regulatory framework limiting the tenure of CEOs to a maximum of 15 years is aimed at promoting leadership diversity and fresh perspectives within organizations. Bhargav Dasgupta’s decision to step down in compliance with this regulation paves the way for a smooth leadership transition at ICICI Lombard.
As Sanjeev Mantri takes on his new role as MD & CEO, he inherits the responsibility of furthering ICICI Lombard’s mission to safeguard the financial well-being of its customers and contribute to the growth and development of India’s insurance industry. His leadership will be instrumental in steering the company through the dynamic and evolving insurance landscape while upholding the highest standards of service and innovation.
The appointment of Sanjeev Mantri reinforces ICICI Lombard’s commitment to leadership excellence and its dedication to serving its customers with integrity, transparency, and a customer-centric approach. As the insurance sector continues to evolve, the company’s leadership transition sets the stage for continued growth, innovation, and excellence in the Indian insurance market.
