Howden appoints Amit Agarwal as CEO, Howden India to accelerate growth
London, 1 August 2023 – Howden, the global insurance group, today announces the appointment of Amit Agarwal as CEO, Howden India, effective 1st August. Agarwal takes over the reins from Praveen Vashista, the former CEO, who will now step up to the position of Chairman. Agarwal’s appointment underlines Howden India’s ambitious growth plans and aspiration to be a leading broker in one of the world’s fastest growing insurance markets by 2026.
Under Agarwal’s leadership, Howden India will continue its drive for innovation and the expansion of its product offering, and will continue to embed local expertise in India for the benefit of its clients. It will execute on 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.
David Howden, CEO, Howden, said: “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.”
Sonia Caamaño, CEO, International Growth Markets, comments: “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.”
Amit Agarwal brings with him a wealth of experience and expertise in insurance brokerage. Having held significant leadership positions in the insurance sector, his appointment reflects Howden's commitment to delivering exceptional client solutions and strengthening its position as a leading player in the Indian market. Agarwal joined Howden India in 2019 as a Managing Director and led its Liability & Specialty Risks practice. Prior to this, 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.
Amit Agarwal, CEO, Howden India says: “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 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.”
Howden India received its trading license in 2004 and now employs over 300 people operating across offices in Mumbai, Delhi, Bangalore, Chennai, Kolkata, Pune and Hyderabad. As the sixth largest broker in the country, it has built a strong reputation as a specialist commercial insurance broker in key product lines including Liability & Specialty, Agriculture, Health & Benefits, Aviation, Property & Construction, and Reinsurance.
In 2022, Howden announced it had obtained Insurance Regulatory and Development Authority of India (IRDAI) approval to increase to 100% its stake in Howden India, reflecting the company’s commitment to build a leading broking business in the country that fosters long-term partnerships with clients and focuses on investing in people and data and technology.