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Bharti AXA Life appoints new CEO

Bharti AXA Life appoints new CEO
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First Published: Tue, Jun 14 2011. 09 36 PM IST
Updated: Tue, Jun 14 2011. 09 36 PM IST
New Delhi: Bharti AXA Life Insurance, which is in the process of being acquired by Reliance Industries, has appointed Sandeep Ghosh as the chief executive officer (CEO) of the company. He takes over from Milind Chalisgaonkar, who was the interim CEO.
Bharti Axa Life Insurance is a joint venture between Bharti Enterprises and French insurer, AXA.
Prior to joining Bharti AXA Life, Ghosh was with ANZ as the managing director, Commercial Banking head for Asia Pacific and was based in Hong Kong. Ghosh has over 20 years of experience in India and overseas, primarily in the financial services sector, a release issued by the company said.
The interim CEO, Chalisgaonkar has now moved back to the parent Axa group and will hold the position of Country Advisor (India).
Reliance Industries had announced last week that it will acquire a controlling stake in Bharti Axa Life Insurance and Bharti Axa General Insurance. RIL and its associate firm Reliance Industrial Infrastructure will acquire Bharti’s 74% stake in the two insurance joint ventures.
However, AXA, which will retain its 26% shareholding would continue to manage the day to day operations of both the JVs.
As of 31 March, Bharti Axa Life had collected new business premium to the tune of Rs 362.4 crore and ranked 20 among 23 life insurance players.
Remya Nair
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First Published: Tue, Jun 14 2011. 09 36 PM IST