Amit Ganoakar, MD &CEO designate, Tata AIG General Insurance
Market sources pointed out that though there has been no public announcement about the appointment of Ganoakar, Tata Group has already informed the employees through a mail
Mumbai: The Tata Group has appointed Amit Ganoakar, MD of Royal Sunderam General Insurance. to succeed Nilesh Garag as the new MD & CEO of Tata AIG General Insurance.
With over two decades of exprience in the sector, Ganoakar had worked in Tata AIG General Insurance before moving to Royal Sunderam General Insurance in June 2023.
The new appointment at Tata AIG General Insurance was necessiated as the incubment Garg had surprisingly put in his papers a few days back.
Market sources pointed out that though there has been no public announcement about the appointment of Ganoakar, Tata Group has already informed the employees through a mail.
Garg will end his nine-year stint with Tata AiG General Insurance in mid December, said sources.
Ganorkar, an engineer and MBA, has over 20 years of experience in the Indian general insurance secror having served various general insurance companies including ICICI Lombard , Reliance General , Tata AIG and Royal Sundaram.
Tata AIG, a joint venture of Tata Sons and American International Group (AIG) ranks 5th among private sector general insurance players underwriting a premium over Rs 15,000 crore with a market share of 5.2 per cent through 8,751 employees spread over 221 branches across India.
Tata Group now has increasingly trusted its own employee to be at the helm of its various ventures. Earlier during the year, it had appointed Venkatachelam Iyer, chief distribution officer and president of Tata AIA Life as the new MD&CEO of the company after shifting the then MD & CEO Naveen Tahilayani to another inhouse venture Tata Digital.