Mumbai/Pune, 23 October 2026: Bajaj General Insurance Limited, a significant unlisted subsidiary of Bajaj Finserv Limited, has announced the appointment of Deepak Reddy as CEO Designate, effective from 1 January 2027. Reddy is set to assume the roles of Managing Director and Chief Executive Officer on 1 April 2027, pending approval from the Insurance Regulatory and Development Authority of India (IRDAI). This leadership transition comes as part of the regulatory compliance with IRDAI’s tenure guidelines.
Dr. Tapan Singhel, the current MD and CEO, will continue to lead the company until 31 March 2027, ensuring a seamless transition. Under Dr. Singhel’s leadership, Bajaj General Insurance has established itself as one of India’s most reputable general insurers, known for its underwriting discipline and customer-centric approach. Sanjiv Bajaj, Chairman and Managing Director of Bajaj Finserv Limited, lauded Dr. Singhel for his transformative leadership and contribution to the company’s success, while expressing confidence in Reddy’s ability to further elevate the company’s standing.
Deepak Reddy brings over 30 years of experience in the financial services sector, having held senior leadership roles at Bajaj Finserv, American Express, Standard Chartered Bank, and MIRC Electronics. His extensive background, particularly within Bajaj Finserv, positions him well to lead Bajaj General Insurance into its next phase of growth. Reddy’s recent role as CEO of Manappuram Finance and his previous contributions to Bajaj Finserv’s Rural, Insurance, and Gold Loan businesses underscore his capability to drive innovation and growth.
The planned succession reflects Bajaj General Insurance’s structured approach to leadership transition, ensuring continuity in strategy and focus on long-term growth priorities. As the company continues to build on its market positioning, industry analysts view this development as a positive step towards sustaining its competitive edge in India’s dynamic insurance sector. The transition is anticipated to support Bajaj General Insurance’s ongoing commitment to innovation and customer satisfaction, aligning with the broader growth trajectory of the Indian insurance industry.
