Pier-Paolo Dipaola appointed Dy CEO, SBI Life

Mumbai: Pier-Paolo Dipaola has been appointed Deputy Chief Executive Officer, effective November 7, 2005. Dipaola has been associated with SBI Life Insurance since its inception in 2001 as a functionary of Cardif in international relationships. Prior to joining SBI Life Insurance, he was the global savings director at Cardif headquarters in Paris.

Dipaola will spearhead the entire corporate marketing functions of the company, ranging from product development to laying down sales processes and training activities. In addition he will also oversee the functioning of companies Bancassurance credit life channel.

SBI Life Insurance is a 74:26 joint venture between State Bank of India and Cardif SA of France with an authorized capital of Rs500 crore (paid up capital Rs350 crore) with he Indian PSU holding majority stake. The total premium income of the company stood at Rs601 crores for FY 2004-05, as against Rs225 crores recorded in the corresponding period last year.