ICICI Lombard CEO Bhargav Dasgupta resigns

ICICI Lombard General Insurance announced that Bhargav Dasgupta, its managing director and CEO, had left the organisation after 14 years of service in order to explore a professional opportunity abroad. The board announced in a regulatory filing that it had taken note of Dasgupta’s departure today.

“Dasgupta will perform his duties up until the day of his last working shift, which will be announced in due course. The corporation is currently filling the resulting vacancy, it was stated. He submitted his letter of resignation on September 21 in order to explore a job opportunity abroad.

Dasgupta said in his resignation letter forwarded to the board that during the previous 14 years, the company’s net profit increased 78 times while revenue increased six-fold. “I would have been required to resign from my job in April 2024 after serving as the CEO for 15 years. As a result, the succession planning process has been started, and I am certain that a qualified successor will be identified quickly, according to the letter.