Tata AIG General Insurance Company announced that Gaurav D. Garg will moving on from his role as MD and Chief Executive Officer of Tata AIG General Insurance in mid-September, 2012.
The Company has achieved all round progress under his leadership and has won several awards taking the Company to an enviable position. Gaurav will continue to assist the Company for a period of time as Advisor to the Board and Senior Management.
K. K. Mishra will be appointed to the role of Chief Executive Officer and will join the Board of Directors. K.K. has been with the Company since its formation in 2000 and has extensive experience in the insurance industry with a strong track record of leadership.
Commenting on this development, Farrokh K. Kavarana, Chairman of Tata AIG General Insurance Co. Ltd. said, “Gaurav who has successfully led the Company over the past five years has announced his intention to pursue other interests outside the Insurance industry.
I would like to take this opportunity to thank Gaurav for his outstanding leadership and valuable contribution in building this Company to where it is today and also wish him the very best in his future endeavours.â€
“The Board joins me in welcoming K. K. Mishra into this new role. KK is an industry veteran with over 30 years of experience and I am confident that under his leadership the Company will not only maintain its strong drive but will also add to the momentum to ensure continued sustainability and growth.†He added
Gaurav was part of the start up team that launched Tata AIG in India in 2000. After initiating successful business operations in various international locations for AIG, he returned in 2007 to assume the role of CEO & Managing Director of Tata AIG.
In a short span of time he accelerated the momentum of the Company and launched various new lines of business and which have today made Tata AIG one of the fastest growing private non life insurance companies in its peer group.
Over the last 27 months, Tata AIG General has consistently outperformed its peers. The Company has grown at 36% over prior in net premium in the first quarter of 2012-13. The gross premium recorded by the Company has shown a growth rate of 30% over prior, which places Tata AIG as one of the fastest growing general insurance players. Tata AIG has gained in rank, placed at No.4 position amongst the 18 private players on gross premium numbers.
