SBI Life Appoints Dorababu Daparti As Deputy CEO

SBI Life Insurance Co. on Monday announced the appointment of Dorababu Daparti as its deputy chief executive officer with immediate effect, according to an exchange filing.

Daparti is an industry veteran with three decades of experience in the financial industry. He began his career with the State Bank of India in 1995 and has since held various managerial and executive roles within the state-run entity.

"He has previously served as the country head and CEO of State Bank of India Maldives operations since September 2021," the filing stated.

Daparti has also played a crucial role as the deputy general manager and head of department for overseas planning and strategy in the "International Banking Group at the bank’s Corporate Centre in Mumbai", it added.

Shares of SBI Life on Monday closed 0.6% lower at Rs 1,486.50 apiece, compared to a 1.06% decline in the NSE Nifty 50. The stock has fallen 2.79% in the last 12 months.

Thirty three out of the 37 analysts tracking the company have a 'buy' rating on the stock and four recommend a 'hold', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 27%.