About Us
About Tata AIG General
Tata AIG General Insurance Company Limited (Tata AIG General) is a joint venture company, formed by the Tata Group and American International Group, Inc. (AIG). Tata AIG General combines the Tata Group’s pre-eminent leadership position in India and AIG’s global presence as the world’s leading international insurance and financial services organization. The Tata Group holds 74 per cent stake in the insurance venture with AIG holding the balance 26 percent. Tata AIG General Insurance Company, which started its operations in India on January 22, 2001, offers complete range of general insurance for motor, home, accident & health, travel, energy, marine, property and casualty, liability as well as several specialized financial lines.
Tata Group Profile
The Tata Group comprises 98 operating companies in seven business sectors: information systems and communications; engineering; materials; services; energy; consumer products; and chemicals. The Group was founded by Jamsetji Tata in the mid 19th century, a period when India had just set out on the road to gaining independence from British rule. Consequently, Jamsetji Tata and those who followed him aligned business opportunities with the objective of nation building. This approach remains enshrined in the Group's ethos to this day.
The Tata Group is one of India's largest and most respected business conglomerates, with revenues in 2006-07 of $28.8 billion (Rs129,994 crore), the equivalent of about 3.2 per cent of the country's GDP, and a market capitalisation of $72.8 billion as on January 10, 2008. Tata companies together employ some 289,500 people. The Group's 27 publicly listed enterprises — among them stand out names such as Tata Steel, Tata Consultancy Services, Tata Motors and Tata Tea — have a combined market capitalisation that is the highest among Indian business houses in the private sector, and a shareholder base of over 2.9 million. The Tata Group has operations in more than 85 countries across six continents, and its companies export products and services to 80 countries.
The Tata family of companies shares a set of five core values: integrity, understanding, excellence, unity and responsibility. These values, which have been part of the Group's beliefs and convictions from its earliest days, continue to guide and drive the business decisions of Tata companies. The Group and its enterprises have been steadfast and distinctive in their adherence to business ethics and their commitment to corporate social responsibility. This is a legacy that has earned the Group the trust of many millions of stakeholders in a measure few business houses anywhere in the world can match.
American International Group, Inc. (AIG) Profile
American International Group, Inc. (AIG), a world leader in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Paris, Switzerland and Tokyo.
Management
Know your MD
25-Jan-2008
Tata AIG General Insurance Company (Tata AIG General) appointed Mr. Gaurav Garg as the Managing Director of the company effective July 1, 2007. Previously, Mr. Garg was the vice president (field operations) of AIG, New York. He succeeds Michael Carlin.
Based in Mumbai, Gaurav is responsible for providing overall leadership for managing the operations of Tata AIG General in India and for driving all business and market development activities.
Commenting on these changes Farrokh Kavarana, Chairman, Tata AIG General Insurance Company said, "We welcome Mr. Garg on board as he takes over the reins from Mr. Carlin as the Managing Director of Tata AIG General Insurance. We would like to thank Mr. Carlin for his contribution during his tenure in India and wish him success for the future. Mr. Garg was a part of the start up team in the year 2000 of Tata AIG General Insurance Company, as the Personal Lines Profit Centre head. Since 2004, in AIG New York, he has been a part of various multifunctional task forces set up to improve operations and transfer best practices. With solid domestic and international experience, Mr. Garg is well equipped to build on the momentum that the company has achieved over the last six years and we wish him all the best as he takes on this challenging assignment."
Before joining Tata AIG, Gaurav has had a long career with the National Insurance Company of India, where he held various responsibilities. Gaurav has completed an MBA from the University of Lucknow in India and is also a fellow of the Insurance Institute of India.
