Varun Gupta joins as President & CDO – Bancassurance and

Sumeet Sahni joins as President & CDO – Agency & Alliances

MUMBAI, India, July 18, 2024 -- IndiaFirst Life Insurance Company Ltd (IndiaFirst Life) announced the appointment of Varun Gupta as President & Chief Distribution Officer (CDO) – Bancassurance and of Sumeet Sahni as President & Chief Distribution Officer (CDO) – Agency & Alliances. The new appointments are part of the company's strategy to further strengthen its distribution network in line with its growth plans.

Rushabh Gandhi, MD & CEO, IndiaFirst Life, said, "We are delighted to welcome Varun and Sumeet to our core leadership team. Their experience and expertise in building and managing robust distribution networks will be instrumental in driving our strategic growth initiatives. Varun and Sumeet's dynamism in building sustainable and value-driven business, aligns well with IndiaFirst Life's #PeopleFirst and #CustomerFirst ideologies. I am confident that their contributions will be pivotal in our journey towards becoming a leading life insurance provider in India."

Varun Gupta comes with 27+ years of experience in building businesses with strong fundamentals. He was previously associated with Max Life Insurance for more than 23 years in key leadership roles. Varun has over the years created and inspired high performing teams and led change & distribution transformation at scale. In his new role, Varun will be responsible for spearheading IndiaFirst Life's Bancassurance partnerships and fostering new relationships to grow a strong distribution network.

Sumeet Sahni brings 26+ years of overall experience and is a veteran in the life insurance industry. He was previously associated with organisations like Aditya Birla Sun Life Insurance, ICICI Prudential Life Insurance, and Max Life Insurance. Sumeet has a proven track record of building and scaling up agency and partnership channels, driving business growth and profitability, and leading large and diverse teams. In his new role, Sumeet will be responsible for building the Agency & Alliances channel at IndiaFirst Life.

With a strong leadership team in place, IndiaFirst Life is poised for continued success and growth.

About IndiaFirst Life Insurance Company Ltd:

Headquartered in Mumbai, IndiaFirst Life Insurance Company Limited (IndiaFirst Life), with a paid-up share capital of INR 754 crores, is one of the country's youngest life insurance companies. Its current shareholders include Bank of Baroda, Union Bank of India, and Carmel Point Investments India Private Limited, which hold 65%, 09%, and 26% stakes in the company. Carmel Point Investments India Pvt Ltd. is incorporated by Carmel Point Investment Ltd, a body corporate incorporated under the laws of Mauritius and owned by private equity funds managed by Warburg Pincus LLC, New York, United States. The company's key differentiator is its simple, easy-to-understand products that are fairly-priced and efficiently serviced. For details, please visit https://www.indiafirstlife.com/

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