HDFC ERGO General Insurance has announced that Anuj Tyagi will be appointed Managing Director and CEO, effective from 1 July 2024. He succeeds Ritesh Kumar, who has led the company for 16 years.
Tyagi has been with HDFC ERGO since 2008 and was promoted to Joint Managing Director in April 2023. He has over 25 years of experience in banking and insurance and has overseen sales, reinsurance, underwriting, claims, technology, and people functions during his tenure, HDFC Ergo said in a statement.
Pending administrative approvals and Supervisory Board consent, Kumar is set to assume the role of Deputy COO in ERGO International’s Board of Management from 4 October 2024, focusing on growth in Asian markets such as China, Thailand, and Singapore.
Keki M Mistry, Chairman of the Board, commented, “The Board wishes to thank Ritesh for his extraordinary leadership over the last 16 years that has left an indelible mark on the Company, the brand and its market position.”
On Tyagi’s appointment, Mistry said, “I am also delighted that we have an able leader in Anuj to take on the baton Anuj has worked closely with Ritesh over these 16 years and has played an important role in reshaping HDFC ERGO into a large tech-first industry leader.”
On his new leadership role, Tyagi commented, “While we will miss Ritesh’s guidance, I am excited and grateful to take on this role at such a pivotal time for the industry and Company.
As we embrace a future-ready, tech-first approach, I look forward to harnessing innovation to deliver unparalleled value to our customers and channel partners.”
Following 16 years of leading the business, Kumar expressed gratitude to the business, shareholders, and board. “For me personally, it has been a privilege to lead this exceptional team at HDFC ERGO—together, we have grown to become one of the top general insurance companies.”
“I am confident that Anuj will usher HDFC ERGO into a new era, and my best wishes are with him,” Kumar added.
