Two R-ADAG wholly owned insurance companies – Reliance Life Insurance and Reliance General Insurance – are in the process of ramping up its senior level manpower-base substantially. This development assumes importance as Sam Ghosh has just taken over as the managing director of Reliance Capital, which supervises these two insurance companies.
Ghosh, who joined Reliance Capital from Allianz, in his earlier stint in India had headed two insurance joint ventures – Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance .
Malay Ghosh, head sales, Bajaj Allianz Life Insurance quit the company to join Reliance Life Insurance. Two senior professionals – S Venkatesh, chief financial officer, K G Krishnamoorthy, chief underwriter from Futures Generalli General Insurance – who were earlier with Bajaj Allianz General Insurance have also joined Reliance General.
A number of senior officials who were working in the regional offices of Bajaj Life have moved to Reliance Life.
Analysts believe Ghosh entry in to Reliance Capital indicate the new focus of ADAG group on the insurance joint ventures which would be eyeing for top positions in the domestic private sector insurance industry.