HDFC ERGO General Insurance elevates Anuj Tyagi as MD & CEO from July 1, 2024

Hyderabad, June twenty seventh, 2024: HDFC ERGO General Insurance right this moment confirms that Mr. Anuj Tyagi will succeed Mr. Ritesh Kumar as the brand new Managing Director & CEO from July 1, 2024, and all mandatory regulatory approvals on this regard at the moment are in place. This is consistent with the intimation to the inventory trade made earlier this 12 months on January 13, 2024, concerning management change as authorized by the Board.

Mr. Tyagi has been with the Company since 2008 and has held varied positions throughout his tenure and was elevated to Joint Managing Director in April 2023.

Mr. Kumar will be a part of the Board of Management of ERGO International from October 4, 2024 onwards and as the brand new Deputy COO of the entity, will deal with the Asian progress markets, such as China, Thailand and Singapore. This appointment is topic to administrative approvals and consent of the Supervisory Board of ERGO International.

Mr. Keki M Mistry, Chairman of the Board, mentioned, “The Board needs to thank Ritesh for his extraordinary management over the past 16 years that has left an indelible mark on the Company, the model and its market place. I’m additionally delighted that we’ve an ready chief in Anuj to tackle the baton – Anuj has labored carefully with Ritesh over these 16 years and has performed an necessary function in reshaping HDFC ERGO into a big tech-first trade chief.”

Dr. Oliver Willmes, Chief Operating Officer and Chairman of the Board of Management of ERGO International mentioned, “I want to thank Mr. Ritesh Kumar for his immense contribution in making this three way partnership Company as a number one insurer in India. I’m assured that Mr. Anuj Tyagi will take HDFC ERGO to higher success along with his dynamism and eager curiosity in buyer centricity & digital innovation.”

“I thank the shareholders and the Board for the belief they’ve had in me. For me personally, it has been a privilege to steer this distinctive crew at HDFC ERGO – collectively we’ve grown to turn out to be one of many high basic insurance coverage firms. I’m assured that Anuj will usher HDFC ERGO into a brand new period and my greatest needs are with him,” mentioned, Mr. Ritesh Kumar, the outgoing MD & CEO.

Mr. Anuj Tyagi mentioned, “While we’ll miss Ritesh’s steering, I’m excited and grateful to tackle this function at such a pivotal time for the trade and Company. As we embrace a future-ready, tech-first strategy, I stay up for harnessing innovation to ship unparalleled worth to our clients and channel companions. I’m assured that we are going to be on the forefront in seizing the evolving alternative on this sector with the help of this unbelievable crew which I’m now going to work with. We will construct on our robust basis in driving progress and setting requirements for the insurance coverage sector.”

With a profession spanning over 25 years in banking and insurance coverage, Mr. Tyagi joined HDFC ERGO in 2008 and has led all gross sales channels together with Reinsurance, Underwriting, Claims, Technology & People features over the past 16 years.