Narendra Kumar Bharindwal, President, Insurance Brokers Association of India
Led by US based Marsh, the largest re/insurance broker in the world, Indian re/insurance brokers manage almost over Rs50,000 crore of premiums annually. Over 95 per cent of premium is managed by top 10 re/brokers
Mumbai: Insurance Brokers Association of India (IBAI), with over 700 members including a few large foreign re/insurance brokers, has announced its new set of functionaries with Narendra Kumar Bharindwal as its new President.
Further, Mohan Sriraman has been elected as the new vice president of the association and the other key board members of IBAI include- Surender Kumar Tonk as another vice president; Nirmal Bazaz as director & hon. secretary and Ashok Kumar Jain as director & hon. treasurer.
Led by US based Marsh,the largest re/insurance broker in the world, Indian re/insurance brokers manage over almost Rs50,000 crore of premiums annually. Over 95 per cent of premium is managed by top 10 re/brokers.
Speaking on his new role, Narendra Bharindwal, said, “ I feel honoured to be elected as the President of IBAI at such a crucial period wherein the insurance industry is witnessing fast paced growth transformation through technology, regulatory changes and evolving customer requirements. In my best capacity, I will focus on strengthening the role of brokers in the industry, advocating for industry friendly policies and increasing awareness on the need for investing in insurance among customers. All of us at IBAI, extend our heartfelt gratitude to Sumit Bohra for his dedicated service and contributions to the association’s initiatives and industry.”