Private insurance firm Bajaj Allianz Life Insurance has appointed Tarun Chugh to be their Managing Director (MD) and CEO, as per media reports. Chugh will replace Anuj Agarwal, who has moved into the role of Regional Chief Financial Officer at Allianz Africa. Anuj Agarwal served as the MD and CEO of Bajaj Allianz Life Insurance for over three years, before moving to Allianz Africa.
Tarun Chugh was the MD and CEO at PNB MetLife Life Insurance, before taking charge at Bajaj Allianz. He has a rich experience of 13 years in the life insurance sector, and over 22 years in financial services.
Meanwhile, Tapan Singhel, who has been heading Bajaj Allianz General Insurance for the last five years, has been re-appointed as the MD and CEO of the company for another five years, effective from the 1st of April, 2017. Tapan was awarded as the CEO of the year 2015 at the Pharmaleaders Business Leadership Awards 2015. During his tenure, Bajaj Allianz General Insurance was the most profitable private general insurance company in the year 2015-16 with a net profit of Rs 564 crores, a media report stated.