Magma Fincorp Limited, today announced the appointment of Swaraj Krishnan as CEO - Designate of its insurance joint venture Magma HDI General Insurance Company Limited. Krishnan will look into the implementation, growth and expansion of Magma HDI across the country and will be responsible for overseeing all business operations.

Commenting on Krishnan’s appointment, Sanjay Chamria, Vice Chairman & Managing Director, Magma Fincorp said, “We are pleased to have Swaraj joining us as the CEO- Designate of Magma HDI. He brings with him an indelible wealth of strategic abilities which I’m confident will help in making Magma HDI into a strong name. We wish him all the best and hope he has a long and fruitful association with us.”

Prior to taking over this new responsibility, Krishnan was CEO of Bajaj Allianz. Swaraj started his career at New India Assurance in 1981 and was with the company for two decades. His 29 years of overall experience and expertise in the insurance industry reflects his commendable and in-depth understanding of the sector. Krishnan will be based in the company’s corporate headquarters in Kolkata.

“I am proud to be associated with Magma HDI General Insurance Company. This is for the first time that a private insurance company is being headquartered in Eastern India. I look forward to an enterprising journey with this group of young enthusiasts. Together we will ensure that we fulfill the dream of making Magma HDI a household name with its products and services”, said Krishnan on his appointment.