SBI General Insurance Company has announced the appointment of Prakash Chandra Kandpal as its new managing director & CEO . He was nominated by parent State Bank of India for the position and has been appointed with effect from 20th July,2020.Kandpal has been with SBI General Insurance as the deputy cEO since June 2019.
Kandpal,deputy managing director,SBI,is a seasoned banker and has more than 33 years of experience with SBI.His stint at SBI involves experience in both retail and international banking, human resource, technology and learning and development. He also had a stint in SBI Mutual Fund as the Chief Operating Officer
Pushan Mahapatra,the former MD & CEO has been appointed as Director-Strategic Investments & Digital Initiatives and continues to be a director of the comoany
Under four and half years of leadership of Mahapatra,the company had not only grown six times,from a premium base of Rs 1000 crore to Rs 6,700 crore,also emerged as the second domestic general insurer after Bajaj Allianz General Insurance, to make underwriting profit.
The general insurer had broken even and reported profits consistently since FY18