Anuj Tyagi, MD &CEO designate, HDFC ERGO General insurance

Ritesh Kumar will join ERGO International from October 4, 2024 onwards and as the new deputy COO and will focus on the Asian growth markets, such as China, Thailand and Singapore

Mumbai: Anuj Tyagi, 49, joint managing director, HDFC Ergo General Insurance will succeed Ritesh Kumar as the new managing director & CEO of the company from July 1 and all necessary regulatory approvals in this regard are now in place.

Kumar,54, after heading HDFC ERGO General Insurance for the last 16 years, will join ERGO International as the new deputy COO, focusing on the Asian growth markets, such as China, Thailand and Singapore, from October 4, 2024 said a statement by the company.

Kumar, like his ICICI Lombard General Insurance counterpart Bhargav Dasgupta, had to relinquish the post as the new IRDAI regulations don’t permit a CEO to hold office beyond 15 years in an insurance company.

This appointment is subject to administrative approvals and consent of the Supervisory Board of ERGO International.

The succession plan at HDFC ERGO General Insurance is in line with the intimation to the stock exchange made earlier this year by the on January 13, 2024, regarding leadership change in the company 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. 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.

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 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. 

Anuj Tyagi said, “ 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.”