Kotak Mahindra Life Insurance Company Limited (KLI) said it has appointed Mahesh Balasubramanian as managing director of the company, according to PTI report. He has been appointed following the retirement of G Murlidhar.
The company is in receipt of approval from the Insurance Regulatory Development Authority of India for the appointment of Balasubramanian, KLI said in a regulatory filing.
The appointment is for a period of three years, it said.
Mahesh Bala, has over two decades of professional entrepreneurial experience in financial services. Starting his career at Godrej & Boyce in 1992, Mahesh moved to Cholamandalam Investment and Finance company in 1994, as the first regional head for the retail business in the West. During his five year tenure, he lead the expansion of the Vehicle finance business, making Chola a key and profitable player in the West. By 1999 he had moved on to a “Strategic team “of the Murugappa Group working on business planning, improving operational efficiency, exploring new initiatives , Mergers and Acquisitions.
In 2000, Mahesh turned entrepreneur and cofounded Apnaloan.com India’s first and largest Online Loan market place for Credit Cards, Unsecured Loans, Car Loans and Mortgages. As Executive Director and Business head he got more than 20 leading Indian/Foreign Banks and NBFCs to participate in the market place.
In 2005 Mahesh joined Kotak Mahindra Bank as part of the core team of the Retail Liabilities and Branch Banking Business. He was instrumental in setting up and leading the Retail Sales, Retail Institutional, Government Business and Cross Sell verticals. In his last assignment he was also the Co-Head of Branch Banking Division.
After successfully setting up and building significant scale across business in Assets, Liabilities and Branch Banking, Mahesh was given the opportunity in Oct 2014, to be the founder CEO of Kotak Mahindra General Insurance.
Mahesh holds a Bachelor’s degree in Mechanical Engineering and a Masters in Management Studies.
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