Appointment Overview
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 and Chief Executive Officer on 1 April 2027. Dr. Tapan Singhel will continue as MD & CEO until 31 March 2027, ensuring a seamless transition and complying with IRDAI’s maximum continuous tenure of 15 years for managing directors, CEOs and whole‑time directors.
Statements from Leadership
Sanjiv Bajaj, Chairman and Managing Director of Bajaj Finserv Limited, praised Dr. Singhel’s contribution in building Bajaj General Insurance into a trusted insurer and expressed confidence that Deepak Reddy will “unlock new opportunities and take the company to greater heights.” Dr. Tapan Singhel highlighted the company’s focus on redefining insurance delivery, pioneering industry‑first initiatives, and reaffirmed his belief that the incoming team will continue to push boundaries and serve customers with dignity.
Profile 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. Within the Bajaj Group, he led the Rural, Insurance and Gold Loan businesses at Bajaj Finance and was the first Group Head of Human Resources, blending business leadership with organisational development. Most recently, he served as Chief Executive Officer of Manappuram Finance.
Parent Company – Bajaj Finserv Limited
Bajaj Finserv Ltd, an unregistered Core Investment Company under RBI directions, reported consolidated revenue of Rs 1,50,530 crore (approximately USD 15.9 billion) and consolidated profit after tax of Rs 8,800 crore (approximately USD 1 billion) for FY 2025‑26. The group serves over 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 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. Established in 2001, it operates in nearly 1,500 towns and cities through the largest distribution network comprising individual agents, point‑of‑sale personnel, banks, NBFCs, motor dealers, brokers and its proprietary sales force. The company holds an ICRA AAA rating, reflecting strong financial strength and stability.
Regulatory Condition
The appointment of Deepak Reddy as MD & CEO is conditional upon IRDAI’s approval, in line with the regulator’s tenure guidelines.