SBI Life Insurance Company Limited has announced major leadership restructuring with the appointment of new presidential roles, as approved by the Board of Directors on April 06, 2026. The changes reflect the company's strategic approach to succession planning and operational continuity.

Key Appointments and Designations

The Board of Directors, based on recommendations from the Board Nomination and Remuneration Committee, has made two significant appointments:

Background and Rationale

The leadership changes stem from the upcoming superannuation of Mr. Durgadas G, the current President - Operations & Information Technology, who is scheduled to retire from the company's services on May 31, 2026. This transition ensures seamless operational continuity during the leadership change.

Mr. Abhijit Gulanikar, currently serving as President – Business Strategy and a Key Managerial Personnel, will transition to oversee Operations & Information Technology. The designation as "President – Operations & IT (Designate)" provides a structured transition period before assuming full responsibilities.

Professional Profiles

Mr. Santosh Chacko

Mr. Chacko brings 28 years of working experience to his new role. His educational qualifications include:

• Commerce graduate
• Post Graduate Diploma in Business Management from Pune University
• Executive Masters Degree in Business Administration from S.P. Jain

His career progression within SBI Life includes serving as Zonal Director – East Zone since 2024, Chief of Institutional Alliances, and Regional Director across various regions. Prior to joining SBI Life, he worked with ICICI Prudential Life Insurance as Head – Agency Development & Sales Training.

Mr. Abhijit Gulanikar

Mr. Gulanikar possesses 30 years of working experience and holds impressive academic and professional credentials:

Within SBI Life, he previously served as Chief Officer – Investment from January 2009 to March 2014 before his current role as President – Business Strategy. His prior experience includes working with Bharati Axa Life Insurance as Vice President - Investments.

Regulatory Compliance

The appointments have been made in compliance with Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulation, 2015, and follow the requirements outlined in SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The company has provided comprehensive disclosure details as mandated by regulatory requirements.

These strategic appointments position SBI Life Insurance for continued operational excellence while ensuring smooth leadership transitions across critical business functions.

SBI Life Insurance Company Ltd. has executed a significant block trade on the National Stock Exchange (NSE), marking a notable institutional transaction in the insurance sector.

Transaction Details

The block trade involved substantial volume and value, demonstrating institutional interest in the insurance company's shares.

Market Significance

Block trades are typically executed by institutional investors, mutual funds, or large stakeholders looking to buy or sell significant quantities of shares without impacting the regular market price. These transactions are conducted outside the normal trading mechanism to ensure efficient execution of large volumes.

The execution price of Rs. 1734.50 per share reflects the institutional trading level for SBI Life Insurance Company shares during this transaction. Such block deals often indicate strategic portfolio adjustments by institutional investors or fund managers.

About Block Trading

Block trades serve as an important mechanism for institutional investors to execute large transactions efficiently. These deals help maintain market stability by preventing significant price movements that could occur if such large volumes were traded through regular market channels.