 "IndiaFirst Life Insurance names Rushabh Gandhi as its next MD & CEO")
IndiaFirst Life Insurance’s board has approved the appointment of Rushabh Gandhi as the managing director (MD) and chief executive officer (CEO) for five years effective July 1, 2024, or the date of regulatory approvals, whichever is earlier.
Gandhi is the deputy chief executive officer of the insurer. The new appointment is subject to the approval of the Insurance Regulatory and Development Authority of India (IRDAI), shareholders, and other statutory approvals. After approvals, Gandhi’s date of appointment will be announced.
R M Vishakha, the current MD and CEO of the life insurer, will retire on June 30, 2024.
Rushabh Gandhi has over 29 years of experience in the financial services industry and across national and international markets. He is an alumnus of Narsee Monjee Institute of Management Studies (NMIMS) and INSEAD, Fontainebleau.
"The Board welcomes Rushabh Gandhi as the new MD and CEO, which marks a new chapter for the company and aligns perfectly with the company's succession planning. Having worked alongside Ms R M Vishakha since 2015, Mr Rushabh Gandhi brings a wealth of experience at IndiaFirst Life in driving growth and profitability. This experience is complemented by his strategic vision that resonates with the core values of IndiaFirst Life," said the insurer in a statement.
Gandhi has worked at Canara HSBC OBC Life Insurance, Aviva Life Insurance and Birla Sun Life Insurance.
In April 2024, IndiaFirst’s new business premium increased by 1.61 per cent to Rs 149.68 crore from Rs 147.31 crore in the year-ago period.