Bajaj Allianz General Insurance on Monday announced a five-year tenure extension of its managing director and CEO Tapan Singhel.
The new term will be effective from April 1, 2022, Bajaj Allianz General Insurance said in a statement.
Under Singhel's leadership, the company has emerged as one of the largest and most profitable private general insurers in the country ensuring growth, profitability and customer-centricity, it said.
In his decade-long stint as the MD and CEO, the company has achieved a cumulative underwriting profit of more than Rs 350 crore, grew its revenue at a CAGR (compound annual growth rate) of 16 percent, grew its net profit (PAT) at a CAGR of over 30 percent with a double growth in solvency ratio from 156 percent to about 350 percent.
(With PTI inputs)