Gandhi will have a five-year term effective July 1 or the date of receipt of regulatory approvals, whichever is later.

He will succeed R.M. Vishakha, managing director & CEO, who will be retiring on June 30.

Gandhi’s appointment is subject to approval of Insurance Regulatory and Development Authority of India (IRDAI), the company’s shareholders, and other statutory clearances.

IndiaFirst Life said, in a statement, that Gandhi’s appointment marks a new chapter for the company and aligns perfectly with its succession planning.

“Having worked alongside R.M. Vishakha since 2015, Rushabh Gandhi brings a wealth of experience at IndiaFirst Life in driving growth and profitability. This experience is complemented by his strategic vision that resonates with the core values of IndiaFirst Life,” the company said.With more than 29 years of experience in Indian and international markets, Gandhi is one of the key driving forces at IndiaFirst Life. He is an alumnus of Narsee Monjee Institute of Management Studies (NMIMS) and INSEAD, Fontainebleau.