Mantri will succeed Bhargav Dasgupta. Credit: Cytonn Photography on Unsplash.

India-based general insurance company ICICI Lombard General Insurance has named Sanjeev Mantri as the new managing director and CEO.

The appointment, which is effective as of 1 December 2023, is subject to approval from the Insurance Regulatory and Development Authority of India (IRDAI) as well as the members of the company.

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The general insurer will seek members’ approval through a postal ballot to appoint Mantri as the new MD and CEO, the company in its stock exchange filing said.

Mantri is currently serving as the ICICI Lombard’s executive director. 

With a career spanning nearly three decades, Mantri became part of the ICICI Group 20 years ago with ICICI Bank.

During his stint at ICICI Bank, he spearheaded various segments such as the small and medium enterprises group and the rural and inclusive banking.

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Mantri took up the role of executive director at ICICI Lombard in 2015 and was responsible for managing the retail unit and distribution of products across different channels. 

In this role, he worked on boosting the revenue and profitability of ICICI Lombard in the general insurance segment.

Mantri also made contributions to the business combination of the company with Bharti Axa.

The appointment of Mantri as the new MD and CEO comes after Bhargav Dasgupta tendered his resignation on 21 September 2023 to pursue an international career opportunity.

ICICI Lombard General Insurance signed a deal with India’s Airtel Payments Bank in February 2023 to provide cyber insurance to its clients.