HDFC ERGO General Insurance elevates Anuj Tyagi to MD & CEO

Anuj Tyagi's role will be effective starting July 1, 2024.

By  Storyboard18Jun 24, 2024 12:19 PM
HDFC ERGO General Insurance elevates Anuj Tyagi to MD & CEO
Anuj Tyagi has been with the Company since 2008 and has held various positions during his tenure and was elevated to Joint Managing Director in April 2023.

HDFC ERGO General Insurance elevated Anuj Tyagi as the new Managing Director & CEO where he will succeed Ritesh Kumar. His role will be effective starting July 1, 2024. This is in line with the intimation to the stock exchange made earlier this year on January 13, 2024, regarding leadership change as approved by the Board.

Tyagi has been with the Company since 2008 and has held various positions during his tenure and was elevated to Joint Managing Director in April 2023.

Kumar will join the Board of Management of ERGO International from October 4, 2024 onwards and as the new Deputy COO of the entity, will focus on the Asian growth markets, such as China, Thailand and Singapore. This appointment is subject to administrative approvals and consent of the Supervisory Board of ERGO International.

Keki M Mistry, Chairman of the Board, said, “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. 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.”

Oliver Willmes, Chief Operating Officer and Chairman of the Board of Management of ERGO International said, "I would like to thank Mr. Ritesh Kumar for his immense contribution in making this joint venture Company as a leading insurer in India. I am confident that Mr. Anuj Tyagi will take HDFC ERGO to greater success with his dynamism and keen interest in customer centricity & digital innovation.”

“I thank the shareholders and the Board for the trust they have had in me. 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,” said, Kumar, the outgoing MD & CEO.

Tyagi said, “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. I am confident that we will be at the forefront in seizing the evolving opportunity in this sector with the support of this fantastic team which I am now going to work with. We will build on our strong foundation in driving growth and setting standards for the insurance sector.”

With a career spanning over 25 years in banking and insurance, Tyagi joined HDFC ERGO in 2008 and has led all sales channels along with Reinsurance, Underwriting, Claims, Technology & People functions over the last 16 years.

First Published on Jun 24, 2024 12:19 PM

More from Storyboard18

Brand Makers

Basketball will take time to develop fan base in India: Sonny Vaccaro, sports marketing expert

Basketball will take time to develop fan base in India: Sonny Vaccaro, sports marketing expert

Brand Makers

VerSe Innovation's Managing Partner and Group CFO Sandip Basu steps down

VerSe Innovation's Managing Partner and Group CFO Sandip Basu steps down

Brand Makers

Kinji Saito steps down as Non-Executive Director of Maruti Suzuki; Koichi Suzuki to take charge

Kinji Saito steps down as Non-Executive Director of Maruti Suzuki; Koichi Suzuki to take charge

Brand Makers

Unilever CEO Fernando Fernandez pins growth hopes on India, calls it a 'key anchor' for future strategy

Unilever CEO Fernando Fernandez pins growth hopes on India, calls it a 'key anchor' for future strategy

Brand Makers

Unilever sees strong growth prospects in India, driven by market share gains, favorable economic factors: CFO Srinivas Phatak

Unilever sees strong growth prospects in India, driven by market share gains, favorable economic factors: CFO Srinivas Phatak

Brand Makers

X revenue climbs with focus on AI and subscriptions

X revenue climbs with focus on AI and subscriptions

Brand Makers

Rob Lake and the return of live spectacle in a digital world: The master of illusion in India

Rob Lake and the return of live spectacle in a digital world: The master of illusion in India

Brand Makers

Dettol maker Reckitt reports robust growth in India, driven by dental, Harpic products

Dettol maker Reckitt reports robust growth in India, driven by dental, Harpic products