Care Health Insurance Appoints Ajay Kumar Shah as Managing Director & CEO
Religare Enterprises Limited's subsidiary, Care Health Insurance Limited (CHIL), has announced the appointment of Mr. Ajay Kumar Shah as its Managing Director & CEO. The appointment was approved by the Board of Directors of CHIL during a meeting held on November 11, 2025.The appointment grants Mr. Shah the role of Managing Director & CEO of CHIL for a term of five years, effective from April 26, 2026. The company noted that the appointment is subject to the subsequent approval of the Company's Shareholders.
Furthermore, the Insurance Regulatory and Development Authority of India (IRDAI) has also approved Mr. Ajay Kumar Shah’s appointment to the position of Managing Director & CEO of CHIL, commencing on April 26, 2026, for a period of 5 years.
Professional Background and Appointment Details
Mr. Ajay Kumar Shah, whose DIN is 11418087, is set to take the helm of CHIL. His appointment was approved by the Board as part of CHIL's internal succession plan.The detailed information regarding the appointment is provided below:
| Particulars | Details |
|---|---|
| Name of Person | Mr. Ajay Kumar Shah (DIN: 11418087) |
| Reason for Change | Appointed as Managing Director & CEO of CHIL, a material subsidiary of the Company, as per CHIL’s internal succession plan. |
| Effective Date | April 26, 2026 |
| Term of Appointment | Five years, appointed as Managing Director & CEO of CHIL, subject to the approval of the Company's Shareholders. |
| Relationships between Directors | Nil |
Mr. Shah brings over 30 years of extensive experience across the Insurance and Financial Services sectors. In his tenure with CHIL, spanning the past 14 years, he played a pivotal role in establishing the Services Division. This division encompasses critical functions such as Risk Management, Technology, Claims, Underwriting, and Operations of CHIL.
Currently serving as the Chief Business Officer of CHIL, Mr. Shah has demonstrated comprehensive expertise in both service and business domains. He successfully led CHIL's Business Verticals for 10 years and Service Functions for 4 years. Throughout his time, he was instrumental in implementing robust internal control systems, strengthening enterprise risk frameworks, and fostering a culture of accountability. His leadership has seen the company's GWP grow more than thirtyfold.
Mr. Ajay Kumar Shah is a Chartered Accountant by qualification and completed his graduation from St. Xavier's College.
RELIGARE Stock Price Movement
Shares of Religare Enterprises Limited slipped by 0.58% on Friday, settling at ₹220.48. The equity saw significant trading activity, recording a volume of 1.44 million shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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