Citi MD Ashish Mehrotra appointed MD & CEO, Max Bupa
18 November 2015
Max Bupa Health Insurance today announced the appointment of Ashish Mehrotra as its managing director and CEO.
Mehrotra brings with him over 22 years of extensive banking experience, where his last role was managing director and retail head Citibank.
He has held several portfolios at Citibank including consumer assets, business banking and mortgage business.
Mehrotra is credited with enabling Citibank gain a leadership position in the wealth management business in India.
At Max Bupa he will be responsible for fortifying the company's position, growing its customer base, enhancing its brand, products and services, strengthening distribution channels and creating long-term value.
''Ashish's diverse expertise and track record of consistent and profitable growth will be invaluable for Max Bupa," said Rahul Khosla, managing director, Max India and chairman, Max Healthcare. "I am confident that under his capable leadership, the company will be able to create long-term value in the high potential health insurance market.''
Rajesh Sud, chairman, Max Bupa said, ''As we continue to grow at a fast pace, and deliver the finest products and services to our customers, Ashish's rich cross functional skills and penchant for innovation will help Max Bupa further accelerate its growth momentum, strengthen the value proposition for its customers and realize its vision of becoming the most admired Health Insurance Company in India.''
Commenting on his new role, Ashish said, "Health Insurance continues to be the fastest-growing segment in the non-life insurance industry and is set for quantum growth. With the B2C Health insurance segment growing at a CAGR of 20 per cent over the last five years, it presents a great opportunity for a retail-focused player like Max Bupa to exponentially grow its customer base."
Max Bupa is a, 74:26, joint venture between Max India Limited, a multi-business corporate with expertise in life insurance and health care and Bupa (earlier British United Provident Association) was established in 1947, a leading global health and care company with 65 years of presence in healthcare.
Max Bupa has an estimated market share of ~10 per cen in the B2C private health insurance market.