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IndusInd General Insurance Appoints Sharad Mathur as MD & CEO Following IRDAI Clearance

IndusInd General Insurance Company Limited (formerly known as Reliance General Insurance Company Limited), an entity under the IndusInd International Holdings Ltd (IIHL) umbrella, has announced the appointment of insurance industry veteran Sharad Mathur as its Managing Director & Chief Executive Officer (MD & CEO), following the receipt of necessary statutory approvals from the Insurance Regulatory and Development Authority of India (IRDAI).

FINSAMUDRA DESK · 22 Oct 2026, 12:29 pm IST · 2 MIN

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The appointment marks a pivotal milestone for the non-life insurer as it formalizes its corporate transition and brand integration under the Hinduja Group’s broader financial services platform.


Three Decades of General Insurance Track Record

Mathur brings over 30 years of executive experience across organizational transformation, multi-channel distribution, digital underwriting, and corporate governance:

  • Universal Sompo General Insurance (6+ Years): Prior to this appointment, Mathur served as the MD & CEO of Universal Sompo General Insurance for over six years. Under his leadership, the joint-venture insurer underwent a comprehensive operational restructuring, expanding bancassurance ties, scaling its agency force, and enhancing digital claim settlement frameworks.
  • Formative Private Insurance Pedigree: Mathur played instrumental roles during the early growth phases of two of India’s premier private general insurers—ICICI Lombard General Insurance and SBI General Insurance—spearheading key retail, commercial, and rural insurance portfolios.

Strategic Roadmap: Scaling Under the IndusInd Flag

With legacy resolution challenges now addressed and statutory clearances in place, Mathur's mandate centers on:

  1. Balance-Sheet Profitability: Optimizing the insurer’s combined ratio through prudent risk selection in motor, retail health, and commercial property lines.
  2. Digital and Insurtech Integration: Modernizing core policy issuance and claims processing through AI-driven underwriting engines to reduce loss ratios and customer turnaround times.
  3. Synergistic Distribution: Leveraging the extensive nationwide footprint of IndusInd Bank and IIHL's financial network to expand retail insurance penetration across Tier-2 and semi-urban markets.

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