Amit Agarwal, CEO, Howden India
Agarwal’s appointment underlines Howden India’s ambitious growth plans and aspiration to be a leading broker in one of the world’s fastest growing insurance markets by 2026, said the company
London:
UK based Howden, a multinational insurance broker, has appointed Amit Agarwal,44, as CEO of Howden India, the sixth largest broker in the country, effective 1st August.
Agarwal takes over the reins from Praveen Vashista, who will now step up to the position of chairman.
Indian general insurance market with an annual premium of over Rs 2.5 trillion, in fy2022-23, transacts almost 40 per cent of its business through broking channel.
Agarwal’s appointment underlines Howden India’s ambitious growth plans and aspiration to be a leading broker in one of the world’s fastest growing insurance markets by 2026, said the company.
David Howden, CEO, Howden, said: “ I thank Praveen for his unwavering support, and know that he will lend his invaluable expertise and guidance to support Howden’s ongoing success and expansion initiatives as chairman.”
Sonia Caamaño, CEO, International Growth Markets, commented, “Amit’s appointment as CEO underscores our commitment to investing in top talent and local expertise to better serve our clients.”
Amit Agarwal, CEO, Howden India says: “ India presents a dynamic and ever-evolving insurance landscape, and our focus will be on driving growth, enhancing customer experience, and contributing positively to the development of insurance industry in India. Our employee owned business model is a critical differentiator in attracting the best talent from the market. ”
Howden India received its trading license in 2004 and now employs over 300 people operating across offices in Mumbai, Delhi, Bangalore, Chennai, Kolkata, Pune and Hyderabad.
As the sixth largest broker in the country, it has built a strong reputation as a specialist commercial insurance broker in key product lines including Liability & Specialty, Agriculture, Health & Benefits, Aviation, Property & Construction, and Reinsurance.
In 2022, Howden had obtained Insurance Regulatory and Development Authority of India (IRDAI) approval to increase to 100% its stake in Howden India.
Howden Group founded in 1994, operates in 50 countries across Europe, Africa, Asia, the Middle East, Latin America, the USA, Australia and New Zealand, employing 14,500 people and handling $30bn of premium on behalf of clients