Mumbai: Zurich Kotak General Insurance Company (India) Limited (formerly Kotak Mahindra General Insurance Company Limited) has appointed Ajey Hegde as its new Head of Commercial Insurance. Following Zurich Insurance Group’s acquisition of a majority stake in June 2024, the company aims to enhance and expand its commercial insurance portfolio in response to the growing demand for commercial insurance coverage and solutions.
Zurich Insurance Group, a commercial insurer, has a strong track record of providing unique services and solutions to commercial clients, supported by exceptional underwriting capabilities, high standards in claims servicing, and extensive risk management expertise.
Suresh Agarwal, MD & CEO, Zurich Kotak General Insurance said: “I am delighted to welcome Ajey to Zurich Kotak General Insurance at such a pivotal moment in our growth journey. With his extensive experience and leadership in the commercial insurance sector, Ajey will play a crucial role in scaling our portfolio and delivering tailored solutions that meet the evolving needs of Indian businesses. Backed by Zurich’s global expertise, we are committed to setting new benchmarks in the industry, providing our commercial clients with world-class risk management and commercial insurance solutions that will enable their sustainable growth and success.”
Ajey Hegde is a seasoned professional in the insurance sector with over two decades of experience. He previously served as the Executive Vice President for Property & Energy at Tata AIG General Insurance Company Limited, where he managed the Direct and Broking SBU within the Property and Energy Product Tower. Before this position, Mr. Hegde held various roles of increasing responsibility at Marsh India Insurance Brokers Private Limited, Future Generali India Insurance Co. Ltd., SBI General Insurance Co. Ltd., and Pioneer Insurance Brokers.
Sean Walker, Head of Commercial Insurance & Chief Technical Officer, APAC said, “As Indian businesses continue to grow, Zurich Kotak is well-positioned as a key risk management partner, helping commercial customers better understand and navigate current and emerging risks. We will look to work closely with customers and brokers, providing comprehensive insurance solutions, risk management advice and resilience support, including engineering and climate risk strategies. Our goal is to empower small, mid-market, large and global Indian companies to support their growth as they achieve success on the international stage.”
According to the World Bank, India’s economy is expected to grow at an average annual rate of 6.7% from 2024 to 2026, fueled by robust domestic demand and investment. As the economy grows, the demand for commercial insurance solutions is anticipated to increase, and Zurich Kotak is well-positioned to address this need.
By leveraging the extensive global expertise and offerings of Zurich Insurance Group, including Zurich Resilience Solutions and the internationally certified International Programs, Zurich Kotak can equip Indian businesses with the risk management and resilience support necessary to navigate both local and global challenges, ensuring they are well-protected as they seek growth in an increasingly interconnected world.
