MUMBAI, January 1st , 2016: IndiaFirst Life Insurance today announced the appointment of Satishwar Balakrishnan as the new Chief Financial Officer (CFO) of the company.
A chartered accountant by profession, Satishwar 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.
Welcoming Satishwar to his new role as CFO, Ms. R.M. Vishakha MD & CEO at IndiaFirst Life, said: “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.”
Commenting on his new assignment, Satishwar 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”
IndiaFirst Life Insurance is today amongst the fastest growing life insurance companies, having covered over 10.3 million lives and has over INR 8712 crore of AUM as on December 31, 2015.
About IndiaFirst Life Insurance
Headquartered in Mumbai, IndiaFirst Life Insurance, with a paid-up share capital of INR 625 crore, is one of the country’s youngest life insurance companies. It is promoted by two of India’s largest public sector banks – Bank of Baroda and Andhra Bank along with UK’s leading risk, wealth and investment company Legal & General. Bank of Baroda holds a 44 percent stake in IndiaFirst, while Andhra Bank and Legal & General hold a 30 percent and 26 percent stake respectively. IndiaFirst believes it can differentiate itself through simple, easy to understand products that are fairly priced and efficiently serviced. Today IndiaFirst Life is present in over 1,000 cities and towns across the country through 10,000+ points of sale. The company has covered over 10.3 million lives and has over INR 8712 crores of assets under management as of 31st December 2015.