Mumbai, 26th May: Neeraj Sharma has joined Magma General Insurance Limited as Business Head – Bancassurance. In this role, he will lead the company’s bancassurance vertical and will report to the Interim Chief Executive Officer.
In this strategic role, Neeraj will be responsible for driving growth across bank and allied partner channels, scaling bancassurance partnerships, enhancing channel productivity, and delivering profitable growth. He will also focus on building sustainable distribution models across PSU Banks, Private Banks, Small Finance Banks (SFBs), Regional Rural Banks (RRBs), Co-operative Banks, and NBFCs.
Neeraj will work closely with cross-functional teams including Product, Technology, Operations, and Risk to deepen market penetration and accelerate Magma General Insurance’s bancassurance strategy.
Neeraj brings over 19 years of experience in bancassurance and insurance distribution, with a strong track record of building and scaling bancassurance networks, managing large P&L portfolios, and leading high-performing teams. Prior to joining Magma General Insurance, he was associated with Universal Sompo General Insurance Co. Ltd. as National Head – Bancassurance. He has also held leadership roles at Bajaj Allianz General Insurance Co. Ltd. and Future Generali India Insurance Co. Ltd., where he successfully managed large bancassurance portfolios and built strong strategic partnerships across regions.
He holds an MBA from the Indian Institute of Planning and Management and a B.Com from the University of Meerut.
This appointment aligns with Magma General Insurance’s focus on strengthening its distribution-led growth strategy, with bancassurance emerging as a key pillar for expanding reach and deepening customer engagement.
