ICICI Lombard General Insurance, the country’s second-largest insurer, has announced the resignation of Bhargav Dasgupta as MD & CEO of the company.
Dasgupta, who held the post of MD & CEO of ICICI Lombard for 14 years, would have ended his term in April 2024. Over the 14 years when Bhargav was at the helm, the company’s revenues grew six times and net profits 78 times.
As per extant regulations, Bhargav would have had to step down from his position in April 2024 after completion of 15 years.
He has now resigned from this position to pursue a career opportunity outside the country, according to a filing by the company with the stock exchanges.
The Board of Directors of the company has taken note of his resignation. ICICI Lombard is in the process of filling the vacancy following the resignation of Dasgupta.
Dasgupta will be officiating his responsibilities till his last working date which shall be intimated in due course, the company said.
Meanwhile, Asian Development Bank (ADB) has appointed Bhargav Dasgupta as Vice-President of market solutions for 3 years.