Managing Director and CEO of ICICI Lombard General Insurance Departs

According to an announcement of ICICI Lombard General Insurance on Thursday, the Managing Director and CEO, Bhargav Dasgupta, has resigned after serving the company for 14 years to explore a career opportunity abroad. The board acknowledged Dasgupta’s resignation in a regulatory filing and stated that Dasgupta would be officiating his responsibilities till his last working date, which shall be intimated in due course of time, and that the company is in the process of filling up the resultant vacancy.

On September 21, he formally submitted his resignation in a letter, citing his desire to pursue an international career opportunity. In his resignation letter addressed to the board, Dasgupta highlighted the substantial growth the company had achieved during his tenure, with revenues increasing sixfold and net profits soaring 78 times over the 14 years. He noted, “I would have had to step down from my position in April 2024 after completion of 15 years as the CEO. As such, the succession planning process has been initiated, and I am certain that a suitable successor will be found soon.”

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