Alok Kumar Agarwal Steps In as CEO of Zurich Kotak General Insurance

Zurich Kotak General Insurance has appointed Alok Kumar Agarwal as its new Managing Director and CEO, effective January 1, 2025. Agarwal succeeds Suresh Agarwal, joining from ICICI Lombard. The appointment follows Zurich's significant acquisition of Kotak Mahindra General Insurance, marking the largest foreign investment since 2021.

Zurich Kotak General Insurance has announced the appointment of Alok Kumar Agarwal as the new Managing Director and Chief Executive Officer, effective from January 1, 2025. This decision was confirmed following the approval from the company's board.

Agarwal steps into his role succeeding Suresh Agarwal, having gained extensive experience with ICICI Lombard General Insurance Company over a 22-year tenure where he held various leadership positions spanning corporate, SME, crop, and retail business sectors.

This leadership change follows Zurich's strategic acquisition of a majority stake in Kotak Mahindra General Insurance Company Ltd, a move marking significant entry into a rapidly growing insurance market. This transaction stands as the largest foreign investment in India's general insurance industry since the FDI cap rose from 49% to 74% in 2021.

(With inputs from agencies.)