Raheja QBE General Insurance Co. Ltd on Monday said it has appointed Liberty General Insurance’s Pankaj Arora as chief executive and managing director. Raheja QBE is a joint venture of Mumbai-based Prism Johnson Ltd and QBE Holding (AAP) Pty. Ltd, a subsidiary of Sydney-headquartered QBE Insurance Group Ltd.
Arora will lead Raheja QBE’s growth plans as well as initiatives to increase its product offerings for end-customers, the firm said in a statement, adding that in the role he will invest in technology and partnerships. Arora said Raheja QBE would continue to keep customers as its core focus. “We aim to bring one unique innovation to the general insurance industry every two years,” he said.
Raheja QBE board chairman Akshay Raheja said he was confident that Arora’s appointment would get the firm the results it was looking for and strengthen its position in the general insurance sector. “Over the next five years, we plan to expand our footprint across the country, with a focus on tapping into the fast-growing personal lines market,” he added.
Before the appointment, Arora was president of Liberty General Insurance’s retail business, bancassurance and affinity units. A graduate of The Institute for Integrated Learning in Management, he has also worked with Tata AIG General Insurance Company Ltd and Bajaj Allianz General Insurance Company.
Raheja QBE was founded in 2007. In 2015, the QBE Group raised its stake in Raheja QBE by 23% for Rs 102.9 crore (A$21.5 million or $15.8 million then).