IndiaFirst Life Insurance has re-appointed RM Vishakha as its Managing Director and Chief Executive Officer. IndiaFirst is a joint venture of Bank of Baroda and Andhra Bank.
The company announced the appointment after receiving the confirmation letter from the Insurance Regulatory and Development Authority of India (IRDAI) confirming her re-appointment.
RM Vishakha stated, “IndiaFirst Life is a wonderful team, bound together by common values, dreams and aspirations. It has been a fulfilling and exciting journey wherein we have achieved many firsts and milestones together. I am thankful to the board and stakeholders for their support, and unwavering faith in me. In this new term, I aim to inch closer to our closely cherished dream of “Insurance for all” with IndiaFirst Life’s ‘CustomerFirst’ ideology that is at the heart of every endeavor.”
Vishakha holds over 30 years of experience in the BFSI sector. She first joined as the Managing Director and CEO of the IndiaFirst Life in 2015. She played a pivotal in the Warburg Pincus acquisition of Legal and General’s 26 percent stake in 2018 as well as for higher distribution possibilities and broadening of the company’s distinctive specialisation in the area of bancassurance when its parent bank – Bank of Baroda, amalgamated with Dena and Vijaya banks,
Under her guidance, IndiaFirst Life’s AUM expanded to Rs. 15,000 crore as of March 31, 2019 and has fortifying its customer base to over 7 lakhs from 93 thousand. In the last five years, the company has also escalated from 20th rank to 12th rank in the retail business. It is this progress which the company hopes to grow under Vishakha’s leadership for the next five years as well.