Future Generali India Life Insurance appoints Alok Rungta as managing director & CEO

Rungta will take over from Bruce De Broize with Broize's tenure ending on March 31, 2024.

Future Generali India Life Insurance has announced the appointment of Alok Rungta as managing director & CEO effective 1st April, subject to receipt of necessary regulatory approvals. Alok is currently serving as the deputy CEO and CFO and takes the reins from Bruce De Broize, who is the MD & CEO until 31st Mar 2024.

Jaime Anchustegui Melgarejo, CEO International at Generali, said, "Alok’s appointment as MD & CEO marks a significant moment for Future Generali India Life Insurance. His leadership skills and deep understanding of diverse markets positions him well to steer the company towards continued growth. As a Group, we have constantly invested in development programs that are designed to equip our employees with the skills and experience they need to reach their full potential, while nurturing their talent. Alok’s elevation is a true testimony of the success of an effective planning.”

Rob Leonardi, regional officer international – Asia at Generali, said, "We express our sincere gratitude to Bruce for his exceptional leadership and invaluable contributions made to Future Generali India Life Insurance. We now welcome Alok as our new MD & CEO for the company. His proven track record of driving growth and profitability, coupled with a strategic vision for the Indian market, aligns seamlessly with our commitment to delivering innovative insurance solutions. We eagerly anticipate witnessing the company's accomplishment and expansion under his guidance."

With an extensive background spanning over two decades in the insurance industry’s diverse markets, Alok adds his valuable expertise across the companies he has worked in the past. In his current serving role as Deputy CEO & Chief Financial Officer (CFO) at Future Generali India Life Insurance since February 2023, he has contributed immensely towards the company's growth. Before this, he held executive positions at prominent insurance companies in the Philippines, Hong Kong and India, highlighting a dedicated career towards leadership journey.

Speaking about his new role, Alok expressed his gratitude, saying, “Being a part of Future Generali India Life Insurance, elevating a leadership position is both a privilege and a progression. I'm committed to continuing the good work of my predecessors, focusing on steady growth and creating a difference. Leading in the dynamic Indian market, my goal is to bring new ideas, expand our reach, and ensure we add value to the lives of our customers and stakeholders.”