Naveen Chandra Jha, MD& CEO, SBI General Insurance
Jha has been promoted as deputy managing director of the bank from the post of chief general manager(CGM) and has been posted as MD &CEO of the general insurance company
Mumbai:
State Bank of India has appointed Naveen Chandra Jha as new MD &CEO of its general insurance subsidiary SBI General Insurance.
Jha has been promoted as deputy managing director of the bank from the post of chief general manager(CGM) and has been posted as MD & CEO of the general insurance company.
The current MD & CEO of SBI General Kishore Kumar Poludas has been shifted as the deputy managing director of internal audit department , corporate center, Hyderabad.
Jha’s new posting has to be approved by the insurance regulator IRDAI.
SBI General Insurance had reported a 30.4 per cent rise in net profit at Rs 240 crore for the financial year ended March 2024.
It had recorded a net profit of Rs 184 crore in the previous financial year.
The company also demonstrated strong growth in overall business clocking a gross written premium (GWP) of Rs 12,731 crore, registering a growth of 17 per cent over the previous year,
The retail business led by Motor and Health have shown strong growth during FY 24.
SBI General Insurance continues to be No. 1 in the Personal Accident segment in the private market, along with its strong presence in various lines of business including Health, Home, Crop, Commercial and Motor.