Mumbai, 4th April 2025: The Insurance Brokers Association of India (IBAI) has announced the appointment of Mr. Narendra Kumar Bharindwal as the new President at its board meeting. With over two decades of vast experience in the insurance broking industry, Mr. Narendra Bharindwal’s expertise lies in insurance broking, risk advisory, regulatory compliance and industry advocacy. In his new role, he will further lead the association ahead in its vision to further strengthen the role of insurance brokers in the Indian market and foster successful partnerships between insurance brokers, insurers and regulatory authorities to ensure transparent and customer-oriented insurance environment.
While Mr. Mohan Sriraman has been elected as the new Vice President of the association, the other key board members include- Mr. Surender Kumar Tonk as the other Vice President; Mr. Nirmal Bazaz as Director & Hon. Secretary; and Mr. Ashok Kumar Jain as Director & Hon. Treasurer.
Speaking on his new role, Mr. Narendra Bharindwal, said, “I feel honoured to be elected as the President of IBAI at such a crucial period wherein the insurance industry is witnessing fast paced growth transformation through technology, regulatory changes and evolving customer requirements. In my best capacity, I will focus on strengthening the role of brokers in the industry, advocating for industry friendly policies and increasing awareness on the need for investing in insurance among customers. All of us at IBAI, extend our heartfelt gratitude to Mr. Sumit Bohra for his dedicated service and contributions to the association’s initiatives and industry.”
Expressing his sentiments on Mr. Narendra Bharindwal’s appointment, Mr. Sumit Bohra, outgoing President of IBAI, said, “I extend my heartfelt congratulations to Mr. Bharindwal on his election as the new President of IBAI. With his vast knowledge and understanding of the nuances of the insurance sector, I am extremely confident that he will take the association’s growth vision ahead strategically and play a key role in advocating and strengthening the broking industry.”
About Insurance Brokers Association of India:
Insurance Brokers Association of India (IBAI) is the recognized association of all licensed insurance brokers in the country. It was incorporated as a Company under Section 25 of the Companies Act, 1956 vide Certificate of Incorporation No. U 67120 MH 2001 NPL 132860 dated 25th July 2001 with its own Memorandum of Association as well as Articles of Association, as required under the Companies Act, 1956. The management of the IBAI vests in its Board of Directors (17 in number) who are elected by the members. The day-to-day functioning is entrusted by the Board to those directors who are chosen as office-bearers & the Secretary-General who is appointed by the Board.
