Universal Sompo is a joint venture between Indian Bank, Indian Overseas Bank, Karnataka Bank, Dabur Investments Corporation and Sompo Japan Insurance has appointed Sharad Mathur as Managing Director & CEO.
The appointment will come into effect from 2nd June 2020. As a part of his new role, he will be leading the company’s overall operations and report to the Board of Directors.
Sharad is a seasoned business leader with more than 23 years of extensive experience and a strong track record of building scale and profitable general insurance businesses.
“We are glad to have Sharad on board as we plan to drive the next phase of development of Universal Sompo. Under Sharad’s leadership, company aims to develop a capability to deliver more innovative products, re-engineered distribution architecture and significant improvements in productivity,” said Padmaja Chunduru, Managing Director & CEO, Indian Bank.
Sharad said, “It has been a fulfilling journey in the general insurance sector wherein we have achieved many milestones together and will definitely achieve many more. I am thankful to the board of Universal Sompo for having faith in me and I am looking forward to working with all stakeholders to accelerate the company’s expansion. Together, we will leverage our ability to innovate, with sharp customer focus which will remain at the heart of our DNA as we continue to build a great service platform for our customers and channel partners.”
“India is a rapidly-growing market for our business in Asia. Sharad’s understanding of Indian market and general insurance business, combined with his expertise in sustainable business expansion and digital technologies, will be a huge asset for Universal Sompo.” said Daniel Neo, Regional Chief Executive Officer of Sompo Holdings (Asia) Pte. Ltd.
Sharad has associated with SBI General Insurance Company Limited in different roles since its inception in the year 2009.
Prior to joining Universal Sompo, Sharad had a specific stint in a new General Insurance project, developing business structure and long-term strategy for a proposed venture. Earlier, he has been employed with ICICI Lombard General Insurance Company Limited, since its inception, in the year 2001, in various regional and national leadership roles. In the past, he has worked with large diversified manufacturing organizations, including, MRF, Bharat Shell and Reliance Retail.
He holds a Bachelor’s degree from Delhi College of Arts and Commerce, University of Delhi; Completed Post-Graduation Program in Management with a specialization in Marketing; ‘Certification Programs in Leadership and Management from Indian School of Business and Harvard.