With the appointment of Pankaj Gupta as Managing Director and Chief Executive Officer, Pramerica Life Insurance Ltd has taken a significant step in accelerating its growth trajectory. The Insurance Regulatory and Development Authority of India (IRDAI) and the Board of Pramerica Life Insurance have both approved the appointment. Pankaj takes over as MD & CEO from Kalpana Sampat.
Pankaj will be accountable as MD & CEO for implementing strategic growth-led change to elevate Pramerica Life to the ranks of India’s premier life insurance businesses. Pankaj comes to Pramerica Life Insurance from HDFC Life, where he was Group Head – Distribution Strategy & Alliances and a member of the top Executive team. He has also held top management positions at Citigroup, ICICI Bank, and TCS.
Pankaj has almost 27 years of expertise in financial services, spanning Distribution, Marketing, Operations, Technology, and Digital Transformation. He graduated from the Indian Institute of Technology, Kanpur, with a bachelor’s degree in technology and a postgraduate diploma in management from the Indian Institute of Management, Lucknow.
Jairam Sridharan, Chairman, Pramerica Life Insurance Limited & MD, Piramal Capital & Housing Finance Ltd., said, “The Board is delighted to welcome Pankaj as MD & CEO. The sector has also witnessed a series of very progressive interventions by the regulator in recent times. At Piramal, we are very excited about these developments and are looking forward to building a great insurance business with our partners PFI.”
Pavan Dhamija, Director, Pramerica Life Insurance Limited and Regional President, International Businesses for PFI, said, “Pankaj’s broad experience and track record of building and operating profitable businesses, combined with an enabling regulatory environment and strong alignment with Piramal, points to a future of sustained high growth for Pramerica Life. We look forward to Pankaj’s leadership, and as shareholders, stay committed to supporting Pramerica Life in the next exciting phase of its journey.”
On his appointment as the Managing Director and Chief Executive Officer of Pramerica Life Insurance, Pankaj Gupta said, “It is an honour to be appointed by the Board of Pramerica Life Insurance and to be entrusted with the responsibility of building a strong company. Life Insurance sector presents a long term structural opportunity. The economic, demographic and regulatory drivers of the sector are compelling. With support from the Board and the shareholders, I look forward to working with my teams to create a thriving and sustainable franchise that is customer-centric and works to deepen the penetration of Life Insurance in the country and contribute towards the mission of ‘Insurance for All by 2047’.”