Tata AIA Life Limited, one of India's fastest growing life insurance companies, announced today that its Board has appointed Naveen Tahilyani as the new Chief Executive Officer & Managing Director, subject to regulatory approval from IRDAI. Naveen Tahilyani will take over from current Chief Executive Officer, Rishi Srivastava, who takes over as Chief Executive Officer, Group Agency Distribution, AIA Group, Hong Kong.
Till 2019, Naveen Tahilyani was the CEO, Group Partnership Distribution at AIA Hong Kong, where he played a vital role in enhancing AIA's Partnership Distribution for the AIA Companies. Prior to this, he was the CEO and Managing Director of Tata AIA from the year 2015 to 2018. Naveen was instrumental in building a high performing work culture, delivering a strong multi-distribution business, profitable growth, a strong leadership team and best-in-class customer experience. During this period Tata AIA was recognized as the fastest growing company in the Indian market and its rank based on Individual Weighted New Business Premium [IWNBP] rose from #17 to #5. Under Naveen's leadership, Tata AIA won the AON Best Employer Award twice in a row and also the AIA Most Outstanding Country Award in 2017.
Rishi is currently Chief Executive Officer and Managing Director of Tata AIA in India. During his tenure as Managing Director, the company posted a strong and profitable growth. Rishi played a key role in reimagining Agency with a focus on Agency acceleration and long term Agency growth, launching it digitally, scaling up the multi-distribution approach by expanding to HDFC branch banking and kicking off the partnership with Central Bank of India as well as strengthening the distributor's digital capabilities. Under Rishi's leadership, Tata AIA is one of the fastest growing Companies in the Insurance with significant market share. Tata AIA won the AIA Most Outstanding Country Award, consecutively for the last two years and the fourth time consecutively AON Best Employer with 87% employee engagement.
Tata Sons and AIA Group are confident that the growth momentum in Tata AIA will continue under the strong and capable leadership of Naveen.