XL Insurance, a subsidiary of global insurance giant AXA, has named Alok Shukla as the new Chief Executive Officer (CEO) of its India Reinsurance Branch, effective April 1, 2025. Shukla will be based in Mumbai, where he will oversee the company’s strategic initiatives and drive growth in the facultative reinsurance sector. His leadership will also focus on enhancing relationships with clients and partners in India.
The announcement comes after Joseph Augustine’s departure from the role of CEO, following a successful 15-year tenure. Augustine, who stepped down on January 31, 2025, will continue to offer guidance as Senior Advisor through March 2025, ensuring a smooth leadership transition.
In the interim, Mayuri Singhal, the Head of Finance for AXA XL in Asia, will take on the role of acting CEO from February 1 to March 31, 2025, to support the transition period.
Shukla, with more than 19 years of experience in the re/insurance sector, is well-versed in leadership roles, having worked with top companies such as Munich Re and Bharti AXA General Insurance. His extensive expertise spans across underwriting, business expansion, and managing high-performance teams. He also brings a deep understanding of the Indian market, positioning him to successfully lead the branch through its next phase of growth.
The firm expressed confidence in Shukla’s appointment, stating, “This will further strengthen our collaboration and commitment to supporting our clients and brokers in India.”
As Shukla prepares to take the reins, the company is optimistic about the future of its reinsurance business in India, aiming for continued value delivery to clients while pushing forward with strategic growth initiatives.
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