Universal Sompo General Insurance Co. Ltd announced that Rajiv Kumar has been appointed as the new Managing Director & Chief Executive Officer. Universal Sompo General Insurance Company is India’s first Public-Private non-life general insurance company. The company is a joint venture of Allahabad Bank, Indian Overseas Bank, Karnataka Bank, Dabur Investments Corporation and Sompo Japan Nipponkoa Insurance.
Rajiv will be responsible for the overall business operations of Universal Sompo General Insurance and will strive towards deepening & strengthening the market share and introduce innovative risk solutions across Retail and Corporate offerings. As of 31st March 2016, Universal Sompo has 113 branches and employs an army of 872 employees across India.
Commenting on his new role, Rajiv Kumar said “I am elated and ambitious to expand Universal Sompo’s product and service offerings in the Indian market, and to continue to distinguish ourselves as a trustworthy risk solution provider. Customer centricity and Product innovation with the right mix of distribution & servicing channels will remain our endeavor as we move forward. I look forward to working along with the employees and other stakeholders and partners, as we embark on this exciting journey of achieving a shared goal.”
Rajiv Kumar began his career with United India Insurance in 1990, where he spent close to 12 years and later moved to IFFCO-TOKIO General Insurance where he was heading the Commercial Corporate Branch in New Delhi. Rajiv has been with Universal Sompo General Insurance since 2007 and in his last role Rajiv was the Head – Corporate Planning, Customer Service, Product Development and Operations for Universal Sompo and was based out of Mumbai. Rajiv Kumar has completed his Post-graduation from Delhi University and is an alumnus of the Insurance Institute of India.