Press Release SBI General Insurance announces

SBI General Insurance Company Ltd. has announced the appointment of ShriNaveen Chandra Jha as its new Managing Director & Chief Executive Officer. He was nominated by the parent company, State Bank of India, for the position. He succeeds Shri Kishore Kumar Poludasu.

ShriNaveen Chandra Jha has been associated with State Bank of India since 1994 and has held several key positions during his tenure. Prior to his current role at SBI General Insurance, Shri Naveen Chandra Jha, Deputy Managing Director, State Bank of India, served as the Chief General Manager of Amaravati Circle, Andhra Pradesh.

Shri Naveen Chandra Jha brings overthree decades of extensive experience inthe banking industry.Throughout his career, he has held various important functional and operational roles, including Branch Management, Credit and Risk Management with a focus on SME Credit, HR & Administration, and Retail Banking. He has excelled in numerous crucial roles such as Regional Manager, Deputy General Manager (CDS), Deputy General Manager (Cadre Management), General Manager of Network, and Chief General Manager of the Circle.

During his tenure, the Amaravati Circle was consistently perceived as the top-performing circle. He has made significant contributions to business development and has been recognized for his exceptional service by being selected for the Chairman’s Club in Branch manager category in 2005 and as Regional Manager in 2015.

At SBI General Insurance, Shri Naveen Chandra Jha is set to leverage his vast experience and business acumen to drive the company towards greater success. His emphasis on overall business strategy, operations, budgeting, and strategic growth aligns perfectly with the company’s mission of being a leading player in the industry.

Shri Jha firmly believes that the engagement of human resources and customer centricity are key to the success of any organization. He has consistently worked towards ensuring that both employee satisfaction and customer experience are prioritized. His motto, “Great Numbers with Excellent Quality,” reflects his commitment to achieving outstanding results while maintaining high standards of service and operational excellence. Shri Jha’s extensive experience will be invaluable as SBI General Insurance continues to navigate it’s path to success aiming to provide “Suraksha aur Bharosa Dono” to all its customers.

About SBI General Insurance

SBI General Insurance is one of the fastest-growing private general insurance firms, backed by the robust support of SBI upholds a legacy of trust and security. We position ourselves as India’s most trusted general insurer amidst a dynamic landscape. Since our establishment in 2009, our expansion has been substantial, growing from 17 branches in 2011 to a nationwide presence of over 143 branches. In FY 2023-24, SBI General Insurance achieved significant growth, with a notable 17% increase in Gross Written Premium (GWP), reaching INR 12,731 crores.

The company has also received notable accolades including the ‘Domestic General Insurer of the Year’ – India at the Insurance Asia Awards 2023 in Singapore, recognition as one of the Best Brands 2023 at the ET Edge Best Brands events and being honoured as one of the Best BFSI Brands at the ET Now Best BFSI Brands Conclave 2024. We have also received recognition as the runner-up for Highest Growth – General Insurance at the ASSOCHAM 15th Global Insurance Summit & Awards and were named the winner in the ‘Best Large General Insurer’ category at the Mint BFSI Summit & Awards 2023.

With a team of 8,000+ employees and our multi-distribution model covering Bancassurance, Agency, Broking, Retail Direct Channels, and Digital collaborations, we are committed to providing both Suraksha and Bharosa to all our consumers. Leveraging a vast network of over 22,518+ SBI branches, agents, financial alliances, OEMs, and digital partners, we extend our services to even the most remote areas of India. Our offerings cater to Retail, Corporate, SME, and Rural segments, and our diverse product portfolio ensures accessibility through both digital and physical channels.

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