Leadership Transition
The Board of Directors of Bajaj General Insurance Limited approved the appointment of Deepak Reddy as CEO Designate, effective 1 January 2027. Subject to approval by the Insurance Regulatory and Development Authority of India (IRDAI), he will assume the role of Managing Director & Chief Executive Officer on 1 April 2027. Dr. Tapan Singhel will continue as MD & CEO until 31 March 2027, ensuring a seamless hand‑over and complying with IRDAI’s maximum continuous tenure of 15 years for Managing Directors, CEOs and Whole‑time Directors.
Background of Deepak Reddy
Deepak Reddy brings more than three decades of experience in financial services. He has held senior leadership positions at Bajaj Finserv, American Express, Standard Chartered Bank and MIRC Electronics. During a 17‑year association with Bajaj Finserv, he played a key role in building and scaling several businesses and most recently led the Rural, Insurance and Gold Loan businesses at Bajaj Finance. He was also Bajaj Finserv’s first Group Head of Human Resources, combining business leadership with organisational development expertise. Prior to this appointment, he served as Chief Executive Officer of Manappuram Finance.
Statements from Leadership
Sanjiv Bajaj, Chairman and Managing Director of Bajaj Finserv Limited, praised Dr. Tapan Singhel’s contribution in building Bajaj General Insurance from a joint‑venture to a wholly owned entity and highlighted the insurer’s reputation for underwriting discipline, innovation and customer focus. He expressed confidence that Deepak Reddy will build on this foundation, unlock new opportunities and take the company to greater heights. Dr. Tapan Singhel, in his farewell remarks, reiterated the company’s purpose of redefining insurance delivery, emphasizing the focus on understanding customer concerns, pioneering distribution models and undertaking industry‑first initiatives. He expressed confidence that the incoming leadership will continue to push boundaries and uphold the company’s mission of ensuring dignified lives for citizens.
Parent Company Overview
Bajaj Finserv Ltd, an unregistered Core Investment Company under RBI directions, reported consolidated revenue of over Rs 1,50,530 crore (approximately USD 15.9 billion) and consolidated profit after tax of over Rs 8,800 crore (approximately USD 1 billion) for FY 2025‑26. The group serves more than 308 million customers across a diversified portfolio that includes consumer and commercial loans, mortgages, auto financing, fixed deposits, payments, securities brokerage, general and life insurance, and investments. Bajaj Finserv is a constituent of the BSE Sensex and Nifty 50 indices.
About Bajaj General Insurance
Bajaj General Insurance Limited, formerly known as Bajaj Allianz General Insurance Company Limited, is a leading private general insurer offering motor, health, home, pet, wedding, event protection, cyber, and rural insurance, as well as fire, marine, engineering, liability and surety products for corporates and SMEs. The insurer operates in nearly 1,500 towns and cities through the largest distribution network in the sector, comprising individual agents, point‑of‑sale personnel, banks, NBFCs, motor dealers, brokers and its own sales force. It holds an ICRA AAA rating, reflecting strong financial strength and stability.
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