Policybazaar Insurance Brokers has appointed Sajja Praveen Chowdary as its Chief Executive Officer, marking an abrupt senior leadership change at the insurance broking subsidiary of PB Fintech, according to a stock exchange announcement.
Chowdary will also serve as the principal officer and whole‑time director of the company. His appointment takes effect from April 7, the company said in the regulatory disclosure.
The appointment follows the departure of Tarun Mathur, who stepped down from his roles as CEO and principal officer at the close of business on April 7, citing personal commitments.
As required under insurance regulations governing intermediaries, the appointment has received approval from the Insurance Regulatory and Development Authority of India, the company said.
Chowdary joined Policybazaar as a manager in 2011 and rose through the ranks to lead its corporate and SME insurance business in November 2022. He previously worked at ICICI Prudential Life Insurance and Citibank.
Separately, the company in February announced plans to raise funds through the issuance of equity shares via a Qualified Institutions Placement for potential acquisitions, strategic investments, and partnerships.
