Mumbai: Zurich Kotak General Insurance Company (India) Limited has appointed Alok Kumar Agarwal as Managing Director (MD) and Chief Executive Officer (CEO), effective from 1 January 2025, succeeding Suresh Agarwal.
Alok joins from ICICI Lombard with over 22 years of experience, where he held various leadership roles, including overseeing Corporate, SME, Government & Rural, Crop, and Retail business lines. He led the Wholesale Group, achieving strong growth and profitability, and most recently served as Executive Director overseeing retail business in the Emerging Market Group.
“I am thrilled to be a part of the Zurich Kotak family! As Zurich Kotak General Insurance enters a new phase of growth, I am determined to contribute to the company’s ongoing commitment to innovation, customer satisfaction, and sustainable business practices. Our company’s current focus is to invest in cutting-edge technologies, strengthen our market position, and foster a corporate culture rooted in integrity, collaboration, and social responsibility. The aim is to be a forward-thinking company that is focused on creating value for our customers, employees, shareholders, and the communities we serve.” said Alok Kumar Agarwal.
In June 2024, Zurich acquired a majority stake in Kotak Mahindra General Insurance, entering India’s fast-growing insurance market. This marks the largest foreign investment in India’s general insurance sector by a foreign insurer since the FDI limit was increased to 74% in 2021.
