SBI Life Appoints Arijit Basu As Its New MD & CEO

Private insurance firm SBI Life Insurance Company has announced the appointment of Mr. Arijit Basu as new Managing Director and Chief Executive Officer of the company. Mr. Basu will succeed Mr. Atanu Sen who retired on July 31, 2014 as the CEO of the SBI Life Insurance Company. 

SBI Life’s new MD & CEO has huge experience of over three decades in the banking sector. Mr. Basu started his career with State Bank of India in 1983 as a Probationary Officer (P.O).

Mr. Basu is a graduate in Economics and MA in History. He is also a Certified Associate of the Indian Institute of Bankers.

Before being appointed as MD & CEO of one of the largest private life insurance firm, Mr. Basu has held several key positions in various circles of State Bank of India (SBI), including the bank’s office at Tokyo. Prior to this appointment, his latest assignment was as Chief General Manager of the Delhi Circle.

Speaking about the company’s future course of action, the new MD & CEO said that there is huge potential in the market as millions of people are still uninsured, and the company’s main focus would be to reach them.

SBI Life Insurance Company is a joint venture between the country’s largest public sector lender the State Bank of India and BNP Paribas Assurance, an international insurance firm. The lion’s stake of 74 per cent in the JV is owned by SBI and the remaining 26 per cent is held by BNP Paribas Assurance.

Source: http://www.insuringindia.com