Future Generali India Life Insurance on Friday announced the promotion of Alok Rungta to Managing Director and CEO effective from 1 Apr 2024, pending regulatory approval.
Rungta, who currently serves as Deputy CEO and CFO of the company, succeeds Bruce De Broize whose time with the business will conclude on 31 Mar 2024.
Rungta’s career spans over two decades and during which he has occupied executive roles in the Philippines, Hong Kong, and India, at businesses such as AXA, Bharti AXA Life, and Birla Sun Life.
Future Generali India credits him with helping to transform operations at the business since his arrival in January 2023, particularly in customer acquisition, engagement, sales innovation, and digital enablement.
Jaime Anchustegui Melgarejo, CEO International at Generali, commented on the promotion, saying that Rungta’s “leadership skills and deep understanding of diverse markets” positions him well to steer the company towards continued growth.
Rob Leonardi, Regional Officer International – Asia at Generali added, “[Rungta’s] proven track record of driving growth and profitability, coupled with a strategic vision for the Indian market, aligns seamlessly with our commitment to delivering innovative insurance solutions.”
On his new appointment, Rungta said that being elevated to a leadership position at Future Generali India Life Insurance was a privilege and progress for his career.
“I’m committed to continuing the good work of my predecessors, focusing on steady growth and creating a difference,” said Rungta, adding that his goal was to bring new ideas and expand the insurer’s reach.
Leonardi also expressed gratitude to the outgoing De Broize: “We express our sincere gratitude to Bruce for his exceptional leadership and invaluable contributions made to Future Generali India Life Insurance.”
