Padalkar steps in as HDFC Standard Life CEO

September 14 2018 by InsuranceAsia News Staff

Vibha Padalkar will become the new chief executive of HDFC Standard Life Insurance for a term of three years.

The appointment was announced by the company in a recent statement and took effect starting Wednesday.

Before her promotion, Padalkar was chief financial officer of the firm.

The move comes after Amitabh Chaudhry resigned as the chief of HDFC Standard Life Insurance to join Axis Bank as CEO.

Padalkar will now steer the largest private sector life insurer in the country in terms of new business premium collection.

Her appointment was decided during a meeting of the board of directors of the life insurer, based on the recommendation of the nomination and remuneration committee.

In a regulatory filing, the company said the terms of appointment are still subject to approval by shareholders and the Insurance Regulatory and Development Authority of India.