Rakesh Jain to head Reliance General Insurance
October 21st, 2011 - 3:00 pm ICT by IANSMumbai, Oct 21 (IANS) The board of directors of private non-life insurer Reliance General Insurance Company Friday announced the appointment of Rakesh Jain as its new CEO and executive director.
The appointment is subject to the nod of Insurance Regulatory and Development Authority (IRDA), according to a statement issued by the company.
“Pawar has been instrumental in building the company in challenging times. He will continue to provide inputs and guide the company as a non-executive director on the board of the company. We are happy to announce the appointment of Rakesh Jain as the new CEO and executive director with immediate effect and look forward to his leadership in turning around operations,” said Sam Ghosh, CEO, Reliance Capital Ltd, the holding company for the insurer.
The Rs.1,655 crore premium income Reliance General is a subsidiary of Reliance Capital and part of the Anil Ambani-led Reliance Group.
Jain, 41, is a chartered accountant and cost accountant by qualification. He was earlier with ICICI Lombard General Insurance Company where he overlooked various activities like operations, information technology, claims management, reinsurance, corporate business and the broking channel.
At Reliance General, Jain will succeed Vijay Pawar, executive director and CEO who will now be the non-executive director on the board.
- IRDA asks general insurers to avoid unhealthy competition - Dec 16, 2011
- Non-life insurers log 27 percent business growth in May - Jun 25, 2011
- Private insurers upset over GIC cutting commission rates - Apr 14, 2010
- Insurance regulator bracing for spat with judiciary - Feb 14, 2011
- Non-life insurers post 19 percent growth in April - May 31, 2011
- Strengthen actuarial departments, says insurance regulator - Dec 23, 2010
- Are low health premiums viable, asks insurance regulator - Dec 11, 2010
- Draft norms for merger of non-life insurers announced - Feb 10, 2011
- Expert 'actuaries' who assess insurance risk getting younger - Dec 28, 2010
- Lalit Jalan re-designated as Reliance Infra CEO - Apr 23, 2012
- Infosys names K.V. Kamath as new chairman (Third Lead) - Apr 30, 2011
- Analjit Singh to be non-executive chairman of Vodafone India - Feb 10, 2012
- ICICI Lombard to hike diesel vehicles' insurance premium - Jun 27, 2011
- Indian insurers taking stock of Japanese tsunami - Mar 11, 2011
- K.V. Kamath named Infosys chairman (Second Lead, correcting date in Para 2) - Apr 30, 2011
Tags: anil ambani, capital ltd, challenging times, chartered accountant, claims management, corporate business, cost accountant, general insurance company, ghosh, holding company, icici lombard, insurance regulatory and development authority, jain, life insurer, lombard general insurance, pawar, reinsurance, reliance capital, reliance group, technology claims