Bajaj Allianz General Insurance has announced a five-year extension for its MD and CEO, Tapan Singhel. Bajaj Allianz General Insurance said in a statement that the new term will begin on April 1, 2022. Under Singhel’s leadership, the company has grown to become one of the country’s largest and most profitable private general insurers, ensuring growth, profitability, and customer-centricity.
During his decade as MD and CEO, the business has made a cumulative underwriting profit of more than Rs 350 crore, grown revenue at a CAGR of 16 per cent, grown net profit (PAT) at a CAGR of more than 30 per cent, and more than doubled its solvency ratio from 156 per cent to around 350 per cent.
Important takeaways for all competitive exams:
- Bajaj Allianz General Insurance Founded: 2001;
- Bajaj Allianz General Insurance Headquarters: Pune, Maharashtra.