IndusInd General Insurance has appointed Sharad Mathur as managing director and chief executive officer (CEO), effective 20 October, following necessary approvals, the Mumbai-headquartered insurer said in a stock exchange announcement on Tuesday.
Mathur joined IndusInd General after spending more than six years at Universal Sompo General Insurance, most recently serving as managing director and CEO. He also co-founded New General Insurance Venture and previously held leadership roles at SBI General, ICICI Lombard and Thomas Cook India earlier in his career.
He brings three decades of experience in the insurance and financial services industry, with expertise spanning organisational transformation, distribution expansion, technology-led initiatives, growth and governance.
Mathur will lead IndusInd General’s next phase of transformation and growth, with a focus on customer centricity, digital innovation, insurance inclusion, profitable growth and governance.
His appointment comes as India’s general insurance market regains momentum.
In August, India’s general insurance industry, excluding reinsurance, returned to double-digit growth, with health and motor remaining its main growth drivers, according to industry data from the General Insurance Council of India, analysed by (Re)in Asia.
The increase marked an acceleration from the 5.6% growth in July and exceeded the 8.4%–9.0% range recorded from March through May, although it remained below June’s 16.2% rise.
