Prestige Assurance Plc has announced the appointment of Mr. Umesh Mohan Rathod as the company’s new Managing Director, effective June 17, 2025.
The announcement was made in a statement filed with the Nigerian Exchange (NGX) and signed by the Company Secretary, Chidinma Ibe-Louis.
Mr. Rathod’s appointment follows the resignation of Mr. Rajesh Kamble, who stepped down after completing his tenure on the same date.
The company expressed its gratitude to Mr. Kamble for his outstanding service, commending his professionalism, integrity, and dedication throughout his time in office.
Commenting on the new leadership, the Board stated:
“The Board is pleased to welcome Mr. Umesh Mohan Rathod as the incoming Managing Director. His wealth of experience will be instrumental in driving the continued growth and success of the company.”
In the same announcement, the company also revealed the appointment of Mr. Deepak Pal as an Executive Director and Mr. Benjamin Simon as Assistant General Manager, Internal Audit Department.
About Mr. Umesh Mohan Rathod
Mr. Umesh Mohan Rathod brings over 28 years of experience in the insurance industry, having served in various leadership capacities, including Regional Manager, Divisional Manager, and Administrator.
He began his career in 1997 with New India Assurance Company Limited in Mumbai, where he held multiple roles across regional and divisional operations.
Over the years, Mr. Rathod has developed deep expertise spanning technical, underwriting, administrative, and marketing functions.
He is also a Fellow of the Insurance Institute of India, reflecting his professional grounding and commitment to the industry.
About Mr. Deepak Pal and Mr. Benjamin Simon
Mr. Deepak Pal, newly appointed Executive Director at Prestige Assurance Plc, brings with him over 13 years of experience in the insurance sector.
- He began his career in 2011 with New India Assurance Company Limited, where he steadily rose through the ranks in various capacities—including Risk Engineer, Branch Manager, Divisional Manager, and Senior Manager.
Though originally trained as a Chemical Engineer, Mr. Pal has bridged the gap between engineering and finance, building a reputation for operational efficiency and leadership in the insurance industry.
- Mr. Benjamin Simon, appointed as Assistant General Manager, Audit Department, has a strong background in finance and accounting, with over 15 years of experience as a Chartered Accountant. His expertise spans across banking, audit, and assurance services, as well as oil and gas insurance.
- Mr. Simon’s skillset includes SOX compliance, project management, cost center and overhead management, internal audit, tax management, and external audit assurance, making him a valuable addition to the company’s leadership team.
The Board expressed confidence and optimism in both appointments, highlighting their depth of experience and the strategic value they bring to the company’s future.
