Global insurance group, Howden, has announced the appointment of Amit Agarwal as the Chief Executive Officer (CEO) of Howden India, effective August 1st. Agarwal takes over from Praveen Vashista, who will now step up to the position of Chairman.
Agarwal’s appointment underlines the company’s ambitious growth plans and aspiration to be a leading broker in one of the world’s fastest-growing insurance markets by 2026.
Agarwal’s remit will include continuing the firm’s drive for innovation and the expansion of its product offering, as well as embedding local expertise in India for the benefit of its clients.
Howden states that it will execute this strategy by attracting top industry talent through an “empowered and employee-owned culture that allows its people to build a business for the long term.”
Sonia Caamaño, CEO, International Growth Markets, commented on the appointment: “Amit’s appointment as CEO underscores our commitment to investing in top talent and local expertise to better serve our clients. His vast knowledge of the Indian insurance market and strategic vision aligns perfectly with Howden’s global objectives and we know that we are primed for the next stage in Howden India’s growth story.”
Agarwal joined Howden India in 2019 as a Managing Director and led its Liability & Specialty Risks practice.
Previously, Agarwal held the role of Director for four years in JLT’s Financial Lines and Credit & Political Risk team in Mumbai. He has also held roles with Marsh and UIB.
Agarwal commented: “As I take the reins from Praveen, I would like to thank him for establishing Howden’s strong foothold in the Indian insurance market. India presents a dynamic and ever-evolving insurance landscape, and our focus will be on driving growth, enhancing customer experience, and contributing positively to the development of the insurance industry in India. Our employee-owned business model is a critical differentiator in attracting the best talent from the market. It aligns the goals of our colleagues with that of the firm and drives them to deliver exceptional services to our clients.”
David Howden, CEO, Howden, commented on Vashista’s departure as CEO: “Ever since we commenced operations in India in 2004, Praveen’s leadership has been constant and loyal. He has grown the business, recruited a talented team and helped to build a leading insurance broker in the country. I thank him for his unwavering support, and know that he will lend his invaluable expertise and guidance to support Howden’s ongoing success and expansion initiatives as Chairman.”
Howden India received its trading license in 2004, and is the sixth-largest broker in the country.
In 2022, Howden announced it had obtained the Insurance Regulatory and Development Authority of India (IRDAI) approval to increase to 100% of its stake in Howden India.
