Bajaj General Insurance appoints former Manappuram head Deepak Reddy as CEO-designate

Mumbai: Bajaj General Insurance on Friday approved the appointment of Deepak Reddy as chief executive officer-designate of the company, effective 1 January 2027. The former chief executive officer at Manappuram Finance, Reddy will take charge as the managing director and chief executive officer of Bajaj General from 1 April 2027, subject to regulatory approval.

Reddy will succeed incumbent chief Dr. Tapan Singhel, who will continue as the head of the company till 31 March 2027. Singhel is set to step down from the role in compliance with the Insurance Regulatory and Development Authority of India (Irdai)’s norm on maximum continuous tenure of 15 years for managing directors, CEOs and whole-time directors.

Bajaj General Insurance is a subsidiary of Bajaj Finserv, shares of which ended 1.4% lower today at ₹1,655 on the National Stock Exchange. Shares of Manappuram Finance closed 5.2% lower at ₹286.10.

“Few leaders have the distinction of building an institution from the ground up,” Sanjiv Bajaj, chairman and managing director, Bajaj Finserv, was quoted as saying in a release. “Tapan is one of them. From its early years as a joint venture to its evolution into a wholly Bajaj-owned company, he has played a defining role in shaping Bajaj General Insurance into one of India’s most trusted general insurers.”

Reddy brings over three decades of experience in financial services, having held senior leadership positions at Bajaj Finserv, American Express, Standard Chartered Bank and MIRC Electronics. In his latest role, Reddy was appointed chief executive officer of the gold loan non-banking financial company (NBFC) Manappuram Finance on 1 August 2026, but stepped down from the position in July 2026, citing professional and personal reasons. Reddy is set to be relieved from the NBFC on 31 December 2026, until which time he will remain on garden leave.

During his 17-year association with Bajaj Finserv, he played a key role in building and scaling several businesses. By the time of his exit in June 2025, he led the rural, insurance, and gold-loan businesses at Bajaj Finance. He was also Bajaj Finserv’s first group head of human resources, bringing together experience in business leadership and organisational development.

“His extensive experience across financial services, including insurance, coupled with his understanding of the Bajaj Group, positions him well to lead Bajaj General Insurance in its next phase of growth,” the release said.

It added that the planned transition reflects a structured approach to leadership succession, ensuring continuity of strategy as Bajaj General builds on its market positioning and pursues its long-term growth priorities.

Established in 2001 as a joint venture between the Bajaj Group and Allianz SE, the general insurance company transitioned to Bajaj General Insurance in January 2026 after ending its 24-year tie-up with the foreign partner. The insurer has a presence in 1,500 towns and cities across India.

Driven by a passion for news and commitment to accurate and ethical reporting, Anshika Kayastha has been covering the full spectrum of BFSI—from banks and NBFCs to fintechs, insurance, payments, regulators, personal finance and money markets for the past 13 years. <br><br>Based in Mumbai, her work at Mint spans comprehensive and insightful stories on sectoral trends, regulatory and policy shifts, corporate strategies, governance, and innovation. With a particular interest in fintech, she keeps a close watch on emerging players, disruptive business models, and the evolving regulatory landscape. <br><br>Prior to joining Mint in July 2024, Anshika honed her craft at The Hindu BusinessLine and Informist Media, to deliver incisive, well-sourced reporting on the forces shaping India's financial services. She holds a degree in media and communication from Symbiosis University. <br><br>When she's not tracking the latest RBI circular or tenaciously pursuing the next story, Anshika is most at home in the mountains of Himachal Pradesh. Warm, social, and endlessly curious, she's a self-confessed credit card enthusiast, and brings that same energy to offbeat TV series, puzzles, beach vacations, and competitive game nights.

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