Vighnesh Shahane is the Managing Director & Chief Executive Officer of one of India’s leading private life insurance firms, Ageas Federal Life Insurance Company Limited (formerly known as IDBI Federal Life Insurance Co Ltd). After a successful stint as President – Bancassurance, Vighnesh assumed leadership of Ageas Federal Life Insurance as CEO in 2014.
During this period, he has been instrumental in setting clear goals for the organisation and driving performance towards their attainment. Under his leadership, the Company has attained numerous milestones and awards, notably the recording of eight consecutive years of net profit, wiping out of all accumulated losses, declaring maiden dividend and being recognised as one of the Top 10 Most Trusted Life Insurance Brands in the country by ET Brand Equity. The Company also recorded a Total Premium CAGR of 14.3% from FY14 to FY20.
FY 2020-21 has been a turbulent year with the ongoing Covid-19 pandemic causing stress and anxiety across the globe. Amidst this uncertainty, Vighnesh has deftly steered the Company through troubled waters, allowing it to emerge stronger on the other side.
It has also been a year where the organisation has transitioned to its new identity as Ageas Federal Life Insurance. Despite this change, the organisation remains committed to its core purpose of empowering people to live the life and lifestyle of their choice. Under Vighnesh’s inspiring and capable leadership, the organisation continues to maintain the same bold outlook, with the same dedication to helping people plan for the future with life insurance and remain #FutureFearless.
Vighnesh is a complete people’s person – you are more likely to see him at various employee workstations in the head office getting a first-hand update on business challenges and opportunities, than working in the confines of his cabin. This informal and passionate management style has evolved from his sportsman spirit, having played Ranji Trophy for Mumbai for 3 years.
Vighnesh believes that sports help inculcate core values like integrity, dedication and accountability, in addition to positively influencing physical and mental fitness. This has led Ageas Federal to adopt the path of sports and fitness as an unconventional approach to build a deeper connect with audiences, create awareness and change behaviour. This conviction has also led him to steer the Company’s corporate social responsibility programme to contribute immensely towards the country’s sports framework. However, his philanthropic vision also extends to areas of healthcare and urban development.
A post-graduate from Narsee Monjee Institute of Management Studies, Mumbai, Vighnesh brings with him over 25 years of experience in consumer banking and life insurance, across diverse geographies, varied markets and multiple customer segments. He has worked with well-known financial services organisations like ANZ Grindlays and Standard Chartered Bank in India, and Mashreq Bank in the UAE.
Vighnesh is committed to the growth and advancement of the life insurance industry and works tirelessly with other life insurance players and the regulator in their deliberations on the implementation of various guidelines and regulations.
IFSC CODE : KKBK0000203
MICR No.: 110485046
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