HDFC ERGO General Insurance Promotes Anuj Tyagi As MD & CEO

HDFC ERGO General Insurance today confirms that Mr. Anuj Tyagi will succeed Mr. Ritesh Kumar as the new Managing Director & CEO from July 1, 2024, and all necessary regulatory approvals in this regard are now in place. 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.

Mr. 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.

Mr. 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.

Mr. 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.”

Dr. 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 Mr. Anuj 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, Mr. Ritesh Kumar, the outgoing MD & CEO.

Mr. 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.”

With a career spanning over 25 years in banking and insurance, Mr. 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.