An Indian insurance joint venture has announced a new chief executive officer and managing director for its business.
Bharti AXA General Insurance, a partnership between global powerhouse AXA and Bharti Enterprises, has named Sanjeev Srinivasan to the joint role.
Srinivasan has been with the firm since 2016, when he joined as chief commercial and principal officer and will now take on the top job following a long career in the industry.
Rakesh Bharti Mittal, chairman of Bharti AXA General Insurance, welcomed Srinivasan to the role and said that he will be able to push the business to a new level.
The Indian insurance industry has hit the headlines in recent weeks with a host of international firms announcing their entrance to the market, following Lloyd’s decision to set-up a reinsurance branch in the country towards the end of 2016.
Jean-Louis Laurent Josi, regional CEO of AXA Asia, reiterated the importance of the Indian market for both the business and the insurance industry in general.
“India, for AXA, is an important market with large potential for insurance penetration given a burgeoning middle-class and a growing economy,” he said. “Bharti AXA General Insurance has already built a strong position in the Indian market with a large customer base.”
Firm backed by Infosys founder to enter general insurance market
India court sides with deceased’s family in road accident case