SBI Life Insurance has appointed Mr. Ramesh Venkateshamurthy as Deputy Chief Executive Officer with effect from May 29, 2026. The Board of Directors approved the appointment based on the recommendation of the Board Nomination and Remuneration Committee.

Mr. Ramesh Venkateshamurthy is a commerce graduate from Bangalore University and a Certified Associate of Indian Institute of Bankers. He brings extensive experience from his tenure at State Bank of India (SBI), where he served in various capacities including Deputy General Manager - Customer Experience in Corporate Centre and Deputy General Manager - Business & Operations in Administrative Office, Thrissur, Kerala.

Prior to this appointment, he served as General Manager (Yono Retail) & UPI in the Digital Banking Department at SBI's Corporate Centre since June 2023. In this role, he was responsible for propagating digital banking products through digital and non-digital channels, managing digital marketing initiatives, and overseeing the end-to-end maintenance of the Bank's UPI portfolio.

The disclosure was made to the exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.

Appointment Details

SBI Life Insurance Company Limited has intimated the stock exchanges regarding the relinquishment of charge by its Deputy Chief Executive Officer, Mr. Dorababu Daparti, effective from the close of business hours on May 18, 2026. The disclosure was made under Regulation 30 read with Para A of Part A of Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Leadership Change at SBI Life Insurance

State Bank of India, by way of its communication, informed SBI Life Insurance that Mr. Dorababu Daparti has been posted as Managing Director & CEO (Designate) at SBI-SG Global Securities Services Pvt. Ltd., Mumbai. Consequently, a relinquishment letter dated May 18, 2026 was received from Mr. Daparti, and he was relieved from his duties as Deputy Chief Executive Officer of the company from the close of business hours on that date.

The key details of the change in senior management, as disclosed under Regulation 30 of the Listing Regulations read with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, are summarised below:

Relinquishment Communication

In his relinquishment letter addressed to the Managing Director & CEO of SBI Life Insurance Company Limited, Mr. Daparti confirmed his decision to relinquish the charge of Deputy Chief Executive Officer with effect from the close of business hours on May 18, 2026. He cited his appointment as Managing Director & CEO (Designate) at SBI-SG Global Securities Services Pvt. Ltd., Mumbai, as the reason for the transition.

The company's Company Secretary, Mr. Girish Manik (ACS No. 26391), signed and submitted the regulatory filing on May 18, 2026, requesting the exchanges to take the information on record. The filing was made to both the National Stock Exchange of India Limited and BSE Limited in compliance with applicable listing regulations.