Bharti AXA General Insurance today announced the appointment of its new CEO designate Dr. Amarnath Ananthanarayanan subject to IRDA approval.
Dr. Amarnath joins the company with in-depth knowledge of Retail Insurance and Consumer Finance. In his last role with GE Money, Dr Amar was the Regional Insurance Leader for GE Capital's Asian operations including India. His responsibility included setting up new markets and developing several innovative products, channels and service levels for distributing insurance to GE Capital's customers.
Mr. Milind Chalisgaonkar, the current CEO of Bharti AXA General Insurance, has decided to move into a part time role due to personal and family reasons. He will continue to be associated with the Group though in a part time capacity.
Speaking during the announcement Mr Akhil Gupta, Deputy Group CEO and Managing Director, Bharti Group said “Milind has successfully laid a foundation for building a strong organisation. We thank him for his contribution. On behalf of the Bharti group, I extend a very warm welcome to Amar and wish him success in the new role he will be assuming. I am sure his rich experience and able leadership will help spearhead growth at Bharti AXA General Insurance and take this business to the next level in its evolution. ”
Dr Jan van den Berg, CEO AXA, Asia Pacific General Insurance who also spoke during the joint announcement said “I extend a very warm welcome to Dr Amarnath for joining the Bharti AXA family. I am confident his experience in Distribution and Marketing of insurance products through channels including Bancassurance will benefit Bharti AXA General Insurance. I take the opportunity to thank Milind Chalisgaonkar for his wonderful work in setting up the company. He will be taking up an internal consulting role for the Group covering all AXA businesses in India."
Bharti AXA General Insurance
Bharti AXA General Insurance Company Ltd is a joint venture between Bharti Enterprises, a leading Indian business group and AXA, a world leader in financial protection. Bharti has a 74% stake in this Joint Venture and 26% stake is with the AXA Group. Currently the company has over 30 branch offices across the country, and plans to expand to 70 branches by the end of 2009.
Bharti AXA General Insurance combines Bharti's powerful leadership position in India, its network and corporate relationships, with AXA's vast experience as the leading global provider in Financial Protection and Asset Management services in over 55 countries across the globe. The company will leverage AXA's operational excellence in the areas of product innovation, technical excellence, quality of service, productivity and distribution, as well as their expertise in claims management, underwriting, pricing and investment performance. Bharti AXA General Insurance will hence provide a well defined product portfolio that will have both traditional and innovative product solutions for the corporate and retail customers.