Money & Banking

DLF Pramerica Life Insurance gets new MD

Our Bureau New Delhi | Updated on February 02, 2011

DLF Pramerica Life Insurance Co Ltd (DPLI) has a new Managing Director and Chief Executive in Mr Pavan Dhamija. Prior to this elevation, Mr Dhamija was Chief Operating Officer of the company.

Mr Kapil Mehta, who was hitherto the Managing Director & CEO, has now stepped down from this post. He will, however, continue to be associated with the company in the role of an advisor. DPLI is a joint venture between realty major DLF and US-based Prudential Financial. The joint venture company started its business operations in September 2008.

“I have always had entrepreneurial aspirations. I am going to start off something on my own. I have become an entrepreneur. I am thinking through what will be the most exciting business I should do,” Mr Mehta said when asked about his future plans.

While the Board of DPLI has passed a resolution recently to elevate Mr Dhamija as Managing Director, his appointment is pending approval with the Insurance Regulatory & Development Authority (IRDA).

Mr Dhamija has mainly consumer finance background (about 17 years) and had last worked for HDB Financial Services (a HDFC Bank subsidiary) before joining DPLI as Chief Operating Officer in the second half of 2010.

Published on February 02, 2011

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