S Garigiparthy appointed Lloyd's country manager for India

Mumbai: London-based insurance and reinsurance market Lloyd's has appointed Shankar Garigiparthy as country manager for India.

Insurance regulator Idai had last year allowed Lloyd's to set up operations in the country.

Garigiparthy will be responsible for market development, representing Lloyd's in discussions with regulators and building business relationships, a company release said.

Arun Agarwal, Lloyd's General Representative in India, will continue in his role, it added.

Garigiparthy brings over 23 years' experience in financial services and was most recently regional compliance manager for Lloyd's based in Singapore.

Prior to this, he was director of insurance supervision at the Qatar Financial Centre Regulatory Authority, where he set up the regulatory framework for insurance companies in the QFC.

"I am very pleased to have the opportunity to lead Lloyd's in India and to return to my home country at such an exciting time in the growth story of both India and Lloyd's," Garigiparthy said.

Lloyd's Head of Asia Pacific, Kent Chaplin, said, "Shankar has been instrumental in helping Lloyd's to grow in the Asia Pacific region and I am delighted he will become Lloyd's Country Manager in India. His in-depth knowledge of Lloyd's and the insurance industry will be an invaluable asset as we seek to grow Lloyd's business in India."