Iyer - Chartered Accountant - Mumbai, Maharashtra, India

Laksman Iyer

Mumbai, Maharashtra, India


1 Fellow Chartered Accountant (FCA) & Fellow Insurance Professional with International PG in General Insurance from IIRM (IRDA) having 25 years’ experience in leading Insurance and Risk Management Operations globally for large groups inclusive of Reliance ADAG and Indorama Ventures.
2 Demonstrated ‘Business Leadership’ with excellent track record as an interface between business and insurance, converting the insurance needs of business into policy in unambiguous terms, at best premium rates and ensuring claims are lodged, complied, recovered in time. Part of Business Think Tank, Audit & Steering Committees.
3 Led Reliance ADAG Groups’ Insurance operations covering assets over INR 50,000 Cr and Indorama’s ‘ 39 PET, PTA, PSY, MEG Plants, across globe worth USD $ 6 Bn
4 Achieved annual premium savings of US$ 2 MN for Indorama and INR 20 Cr for R ADAG.
5 Settled over Rs. 200 Cr claims for Reliance ADAG, US$ 110 MN for Indorama for flood claims and Rs. 90 Cr for Tata Teleservices.
6 Secured insurance of Sterilite’s Balco, Korba plant a premium of Rs. 14 Cr in United India. Achieved Revenue of over Rs. 25 Cr in FAC placements
7 Achieved ‘Operational Excellence’ by process improvement towards better efficiencies.
8 Familiar with insurance and reinsurance markets and knowledge of global insurance practices.
 Proven skills and expertise to handle Property, Causality, Marine, Aviation, Port, Liability, Project Insurances, ERM and BCP.


Chartered Accountant

Work History

Senior Vice President & Western Zonal Head

Suprasesh Composite Insurance Brokers Private Limited

From April 2014

Chennai, April, 2014 onwards, www.suprasesh.com
The Company is engaged in carrying out Facultative Reinsurance and placement of Treaty in the International Market and direct business.
Senior Vice President & Western Zonal Head, Reporting to MD
My role is to develop reinsurance business in the Western region in the Oil, Energy Shipping sectors. Responsibilities include providing Insurance & Reinsurance support for CAT /XOL programs.
• Participated in Oil, Energy, Marine, Property, Engineering 2014-15 CAT XOL treaty renewal programs of GIC & New India, which till date has accrued the premium of INR 12 Cr.
• Driving the niche market port package policies, Shipping, property, Liability & Event insurance with the reinsurance support in London

Head - Project Cell

JB BODA Reinsurance Brokers, Mumbai

June 2013 - March 2014

June 2013 - Mar 2014, www.jbboda.net,
The Company is a part of JD Boda Group, engaged in Insurance and Reinsurance broking and advisory services.
Head - Project Cell, Reporting to Vice Chairman
As a Head of Project Cell for Reinsurance business was responsible for business development and operations for Project Insurance and Reinsurance business. Also supported setting up operations in the Gulf and SEA Market.
• Revived operations of project cell to cater to infra, power, energy insurance of companies like Reliance Infra, Moser Bayer, and Jindal Steel - led to revenue accrual of over INR 10 Cr.
• Assisted in expanding operations in Middle East and SEA to tap untapped reinsurance market.
• Facilitated in FAC placements for insurance companies, business over INR 15 Cr.

Global Head - Insurance & Risk Management

Indorama Ventures, Bangkok

August 2012 - May 2013

Aug 2012- May 2013, www.indorama.net
Indorama Corporation is a leading organization that manufactures a multitude of industrial products including Polyethylene, Polypropylene, Spun Yarns, Fabrics, and Medical Gloves. It is the second largest producer of Polyolefin in Africa and the largest in West Africa.
Global Head - Insurance & Risk Management
As a Global Head of Insurance and Risk Management for the Group, responsibilities included leading the Insurance portfolio with an annual premium of USD $ 23 MN -insurance operations inclusive of the 39 plants in PTA, PET, Fibre, Wool & MEG, and spread in Asia, Europe, USA, UK, & Africa

• Recovery of USD $ 110 million ( PD+ BI) from insurance company towards the Thai flood claim of Sep' 2011 in coordination with business for claim documentation compliance, constant follow up with insurance companies, Loss adjusters, Forensic accountants, Valuers
• Achieved global consolidation under countrywide common insurance program (GIPS), thereby saving annual premium for 2013-14 of USD $ 2 MN.
• Managed operation insurance of 39 PET, PTA, PSY, MEG Plants, spread across in 13 countries including Indonesia, China, Thailand, Europe, USA, UK, & Africa.
• Successfully formulated and implemented corporate risk management strategy, ERM, BCP across the Group and designated as CRO (Chief Risk officer) by the company Board.
• Built up a insurance team across the company and trained them in risk management practices.
• Due diligence for company's merger and new acquisition.

Vice President - Finance & Head Corporate Insurance & Risk Mgmt

Reliance Infrastructure Limited

February 2005 - July 2012

Led insurance of ADAG Group (Reliance Infra & Reliance Power) in the business of Power generation, Transmission, Distribution, EPC Contracts and Infrastructure projects like Metro Rails, Airport, Roads, Sea-link, with annual premium over INR 100 Cr.
• Implemented insurance programs for Groups' infrastructure and power projects inclusive of Delhi Metro, Mumbai Metro, Susan UMPP, EPC Power Projects, Road Projects and Airports.
• Part of business development team that facilitated ADAG to win Mumbai Metro, Sasan & Krishnapatnam by factoring lowest insurance cost in the bid project document
• Managed the Groups' overall insurance portfolio and in 2011-12 group, handled over 250 policies on EPC, Projects, Human assets, renewals covering group assets worth INR 50,000 crore
• My efforts led GIC for the first time to insure ROLLING STOCK for operation in Delhi Metro.
• Ensured Medical Policy coverage of 7500 families with 30000 lives
• Settled over INR 200 Cr claims during 2005-2012, by timely lodging the claims, compliance, coordination with site for documentation and rapport with insurance companies & surveyor.
• Achieved over 20% reduction in premium annually, through self-insurance, pruning the uninsurable cost, competitive bidding by leveraging the insurance companies
• Training & Guiding EPC/Project team on best safety, insurance and risk management practices.

Senior Manager

KM Dastur Reinsurance Brokers

April 2004 - January 2005

Mumbai April 2004 - Jan 2005, www.kmdastur.com The Company is a leading independent direct and reinsurance broker in Asian, African & Middle Eastern markets.

Senior Manager
Managed overall insurance operations of the Company with a premium of over Rs. 30 Cr. Setup insurance division for Tata Teleservices, leading telecom service provider with PAN India presence and facilitating the Telecom handset default claim amounting Rs 90 Cr.

Divisional Manager

United India Insurance Company Ltd

September 1984 - March 2004

Mumbai, Sep 1984 - Mar 2004, www.uiic.co.in, The Company is a leading General Insurance Company with global operations.
Divisional Manager
Worked in various capacities in Accounts, Audit, IT, Underwriting, Customer Service, Claims, Accounts, Audit, for annual premium ranging INR 10 Cr to INR 200 Cr. Joined the company in 1984 as Administrative Officer.
Secured construction insurance cover for the period from 2002-05 for Sterilite's Balco Plant, Korba at a premium of Rs 14 Cr, amongst a stiff competition.

Qualifications & Certifications

Insurance Institute of India

International PG In Genetal Insurance

IIRM Hyderabad

Institute of Company Secretaries of India

Institute of Chartered Accountants of India

University of Madras

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