V Suryanarayanan to retire as Managing Director of Chola MS General Insurance
After two decades with Cholamandalam MS General Insurance Company Limited (Chola MS), including the last six years as Managing Director, Mr. V. Suryanarayanan will retire from the Company on May 31, 2026. His retirement also marks the completion of almost thirty years with the Murugappa Group.
The Board of Directors places on record its deep appreciation for Mr. Suryanarayanan’s outstanding contribution to Chola MS. Since assuming office as Managing Director in 2020, he led the Company through a period of sustained momentum, delivering growth ahead of industry averages. Under his leadership, Chola MS expanded and diversified its product portfolio, strengthened distribution partnerships, deepened its use of technology, built capable and engaged teams, and further reinforced governance practices.
The Board has appointed Mr. Rajive Kumaraswami as Managing Director‑Designate with effect from April 22, 2026. He will succeed Mr. Suryanarayanan as Managing Director and CEO of Chola MS from June 1, 2026, subject to regulatory approvals.
Mr. Kumaraswami brings over three decades of experience across insurance and banking and has been closely associated with the insurance sector since its liberalisation. Most recently, he served as Managing Director and Chief Executive Officer of Magma General Insurance Company Limited, where he led the organisation through a sustained phase of growth. Over nearly a decade, he transformed the company from a small player into a mid‑sized, multi‑channel general insurer.
He began his career with ICICI Limited in project finance and subsequently joined ICICI Lombard General Insurance Company Limited as part of its founding team and held senior leadership roles across underwriting, reinsurance, sales, and risk management, including serving as Chief Risk Officer.
Thereafter, Mr. Kumaraswami joined SCOR SE, the world’s fifth‑largest reinsurer, as Chief Representative for the Indian subcontinent. Over the next four years, he played a key role in establishing SCOR’s foreign reinsurance branch in India and strengthening its market presence.
Mr. Kumaraswami is an alumnus of the University of Delhi. He is a Fellow Member of the Institute of Chartered Accountants of India and an Associate Member of the Institute of Cost Accountants of India.
