Zurich Kotak General Insurance Appoints Ajey Hegde As Head Of Commercial Insurance

Zurich Kotak General Insurance Company (India) Limited (formerly Kotak Mahindra General Insurance Company Limited) today announced the appointment of Ajey Hegde as its new Head of Commercial Insurance. Following the majority stake acquisition by Zurich Insurance Group in June 2024, the company aims to strengthen and scale up its commercial insurance portfolio, reflecting the increasing demand for commercial insurance coverage and solutions in the market. Zurich Insurance Group, one of the largest commercial insurers globally, has a proven track record in delivering differentiated services and solutions to commercial customers underpinned by strong underwriting capability, leading claims servicing standards, and deep 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 an accomplished professional in the insurance industry with extensive experience spanning over two decades. Previously, he served as the Executive Vice President – Property & Energy at Tata AIG General Insurance Company Limited. He was responsible for overseeing the Direct and Broking SBU within the Property and Energy Product Tower. Prior to this role, Mr. Hegde held various positions 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 projected to grow at an average rate of 6.7% annually from 2024 to 2026, driven by strong domestic demand and investment. As the economy expands, the demand for commercial insurance solutions is also expected to rise, and Zurich Kotak is well-positioned to meet this need.

Leveraging Zurich Insurance Group’s extensive global expertise and offerings through Zurich Resilience Solutions and the internationally certified International Programs from Zurich, Zurich Kotak can provide Indian businesses with the risk management and resilience support they need to navigate both local and global challenges, ensuring they are well-protected as they pursue growth in an increasingly interconnected world.