HDFC ERGO General Insurance has confirmed the appointment of Anuj Tyagi as its new Managing Director and CEO, effective from July 1, 2024. Tyagi will succeed Ritesh Kumar, who will step down after a 16-year tenure at the helm. 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, “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 am confident that Mr. Anuj Tyagi will take HDFC ERGO to greater success with his dynamism and keen interest in customer-centricity and digital innovation.”
With a career spanning over 25 years in banking and insurance, Tyagi brings extensive experience across sales channels, reinsurance, underwriting, claims, technology, and human resources to his new role.
Anuj 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,” he added.