Zurich Kotak General Insurance on Wednesday announced it has appointed Alok Kumar Agarwal as Managing Director and Chief Executive Officer, effective 1 January 2025. He succeeded Suresh Agarwal in the role.
Agarwal joins the Indian insurer following a 22-year stint with ICICI Lombard, where he most recently served as Executive Director, heading the retail business in the Emerging Market Group. During his time there, he also led the Wholesale Group, which included Corporate, Government, and Rural businesses.
Speaking on his new role, Agarwal said he was “thrilled” to be joining Zurich Kotak. He added that the company’s current focus is to invest in cutting-edge technologies to improve its market position, while fostering a corporate culture rooted in integrity, collaboration, and social responsibility.
“The aim is to be a forward-thinking company that is focused on creating value for our customers, employees, shareholders, and the communities we serve,” Agarwal added.
In June last year, Zurich Kotak General Insurance was formed after Zurich acquired a 70% stake in Kotak Mahindra General Insurance for 55.6bn rupees (US$670m), marking the largest foreign investment in India’s general insurance market since the 2021 FDI rule change.
