Kalpana Sampat, a seasoned business leader with over three-and-a half decades of experience, has been appointed as the Managing Director and CEO of Pramerica Life Insurance Limited. Prior to this appointment, she was the Chief Operating Officer for the company.
Currently, Sampat is one of the only three women CEOs in the life insurance sector in India, where the executive suite is still a male bastion. Sampat is a powerful inspiration for other women CEOs in waiting, including those outside of financial services.
Sunil Kumar Bansal, Chairman of Pramerica Life Insurance Limited, said, "Kalpana is a respected leader in life insurance with an exceptional record. The board is optimistic that the company can deliver substantial strategic and operational progress under her able leadership.”
James Weakley, Vice-Chairman of Pramerica Life Insurance Limited and SVP and President, Emerging Markets International Insurance at Prudential Financial Inc., said, “Kalpana knows our company’s business exceptionally well, having managed various departments for over last two years. Her extensive experience and her track record of success in the life insurance sector provide confidence that Pramerica Life Insurance is ready for a leap to the next level.”
On her appointment, Sampat said, "I am honoured by our company board’s decision and appreciate the trust posed in me by the shareholders and the Board. Our joint venture partner ‘Prudential Financial Inc.’, is an incredible global institution with a proud history. I am excited to collaborate with all my colleagues, in writing the next chapter at Pramerica Life Insurance and am fully committed to the responsibility bestowed on me.”
Prior to joining Pramerica Life Insurance, Sampat was the CEO for Swiss Reinsurance Co., India branch, and was instrumental in its launch in 2015. She is a certified ACMA, a Fellow of the Insurance Institute of India and Associate of the Chartered Insurance Institute UK. She has also been a guest faculty at the National Insurance Academy since 2003.
With this instrumental change in leadership, the company is looking to achieve greater heights and serve its customers with vigour.