SBI Life Insurance Company today said Sanjeev Nautiyal has taken over as the company's Managing Director and CEO. The company has received an approval from the Insurance and Regulatory Authority of India (IRDA) in relation to the appointment of Sanjeev Nautiyal as the MD and CEO, it said in a BSE filing. ".accordingly, Sanjeev Nautiyal will assume the office of MD and CEO of our company with immediate effect," it added. He succeeds Arijit Basu, who has now been posted as Deputy Managing Director of Corporate Accounts Group of the parent company, SBI. SBI Life is a joint venture between the country's largest lender State Bank of India (SBI) and global insurance company BNP Paribas Cardiff.