IndiaFirst Life Insurance on Monday (February 1) appointed Satishwar Balakrishnan as its new chief financial officer (CFO).
Bank of Baroda holds a 44 per cent stake in IndiaFirst Life Insurance, while Andhra Bank and the UK’s Legal and General hold 30 per cent and 26 per cent shares respectively.
"Satishwar is an experienced and talented finance professional with substantial background in the life insurance sector. He has a remarkable capability to extensively manage the finance function, and play the role of a business partner to ensure the best outcomes for the organization," said R.M. Vishakha, managing director and CEO at IndiaFirst Life.
A chartered accountant by profession, Balakrishnan has over 17 years of experience in finance, information technology and operations management within start-ups and leading life insurance organizations. He is a founding member of IndiaFirst Life and has contributed across various functions within the organization, the company said.
"IndiaFirst Life Insurance is a company with tremendous capabilities, talented people and market leadership position in a growing Insurance industry. I am excited to leverage my experience within the Insurance industry and IndiaFirst to steer the critical Finance function and contribute to the overall sustainable and profitable growth of the company," Balakrishnan said on his appointment.
It is amongst the fastest growing life insurance companies, having covered over 10.3 million people and has over Rs 8,712 crore of assets under management as on December 31, 2015.
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Haider Ali Khan is an alumnus of IIMC. He holds a degree in English Journalism from the prestigious campus. His passion includes Aviation, Technology, Politics and Sports.
