MS First Capital Insurance Limited (MSFC), on Friday (21 June), announced Vikas Shukla’s appointment as its new Chief Executive Officer, pending approval from the Monetary Authority of Singapore. Shukla will succeed Ramaswamy Athappan, who passed away in May 2024.
Athappan had led MSFC to significant achievements, including surpassing SGD 1bn in gross written premium and doubling the company’s size within five years, MS First Capital said in its announcement.
Shukla, currently the Chief Risk Officer at MSFC, has been with the business since 2019 and has over 30 years of experience in the non-life insurance industry, working in commercial and retail lines of business in the region.
“In his new role, Vikas is committed to upholding the pursuit of technical excellence which defined Mr. Athappan’s work ethos,” MS First Capital said.
Shukla will work closely with the company’s senior leadership to ensure continuity and strengthen MSFC’s position in Singapore’s insurance industry while aiming to enhance synergies and growth opportunities across the region.
“We are confident that Vikas’ strategic vision and proven leadership will steer MS First Capital towards continued growth and success,” said Clemens Philippi, Chief Executive Officer of MSIG Asia Pte Ltd. “His appointment marks a new chapter in our journey as a Group for this region, and we look forward to achieving greater milestones together.”
MSFC is part of the MSIG Asia network and is owned by Mitsui Sumitomo Insurance Co., Ltd.
