sanjeev mantri: ICICI Lombard appoints Sanjeev Mantri as MD & CEO of company

Sanjeev Mantri who is the current executive director of ICICI Lombard has been appointed as the new Managing Director (MD) and Chief Executive Officer (CEO) with effect from December 1, 2023, said the company through its exchange filing on Sunday.

“Sanjeev Mantri, as an executive director, has significantly contributed towards the growth of the retail business and improved the company’s position in terms of revenue and profitability in the general insurance sector,” said the company on the appointment of Mantri.

The change in directorship comes after the company announced that Bhargav Dasgupta has resigned from the role of MD and CEO of ICICI Lombard on September 21, 2023.

Sanjeev Mantri has spent nearly 20 years with the company and has been responsible for the distribution of products across agency, bancassurance, direct and alternate channels. He is also in charge of strategy, products, analytics, pricing, marketing and corporate communication verticals at ICICI Lombard.

He also heads the retail division of ICICI Lombard.

In the past, Mantri has held key leadership positions with BNP Paribas and ICICI Bank Limited over a career spanning more than 20 years.ICICI Lombard reported a 12 per cent year-on-year increase in net profit to Rs 390 crore for the first quarter that ended June. The company had posted a net profit of Rs 349 crore in the year-ago period.

The company has clocked an operating profit of Rs 331 crore during the June quarter, up 4 per cent from Rs 317 crore reported in the same quarter last year.