Mumbai, Maharashtra, India, May 2026 – Ageas Federal Life Insurance has announced the appointment of Rajeev Chugh as its new Chief Financial Officer (CFO). Bringing nearly three decades of experience in financial management, governance, regulatory compliance, financial planning, and insurance sector leadership, Rajeev joins the organization at a time when Ageas Federal Life Insurance continues its transformation and growth journey across the Indian life insurance market.
In his new role, Rajeev Chugh will be responsible for driving financial strategy, governance excellence, capital management, regulatory compliance, business performance, and long-term value creation for stakeholders. His appointment reinforces the company’s commitment to strengthening its leadership team and supporting sustainable business growth.
Prior to joining Ageas Federal Life Insurance, Rajeev served as Chief Financial Officer at Generali Central Life Insurance, where he led finance operations and strategic initiatives with a strong focus on financial reporting, governance, and IFRS 17 implementation. His leadership contributed to strengthening financial controls and supporting the company’s evolving business objectives within a dynamic regulatory environment.
Before returning to India, Rajeev held the position of Head of Financial Control at GIG Gulf and earlier at AXA Gulf. During his tenure in the Gulf region, he played a key role in financial governance, regulatory compliance, IFRS implementation, financial audits, and operational excellence across multiple insurance businesses. His extensive experience in international financial reporting and control frameworks helped strengthen organizational resilience and financial transparency.
A significant chapter of Rajeev’s career was his more than eleven-year tenure with Aegon Life Insurance, where he progressed from Financial Controller to Chief Financial Officer. During this period, he contributed to strategic financial planning, capital management, business performance improvement, financial reporting, risk management, and stakeholder engagement. His leadership helped support the company’s growth and strengthen its financial foundation during a period of transformation within India’s life insurance industry.
Earlier in his career, Rajeev held finance leadership positions with AXA, PwC, Deloitte, P. Raj & Company, and Vinod K. Mehta & Co.. These experiences provided him with a strong foundation in auditing, financial controls, corporate governance, accounting standards, and regulatory compliance.
With nearly 30 years of experience across insurance, financial services, auditing, and corporate finance, Rajeev is widely recognized for his expertise in financial transformation, governance, IFRS frameworks, strategic planning, and stakeholder management.
About Ageas Federal Life Insurance
Ageas Federal Life Insurance is a leading life insurance company backed by a partnership between Ageas, a European insurance leader with more than 200 years of expertise, and Federal Bank, one of India’s most respected private sector banks. The company serves millions of customers through a nationwide network of branches and agents, offering protection, savings, retirement, and wealth creation solutions. Guided by its values of Care, Dare, Deliver, and Share, Ageas Federal Life Insurance continues to strengthen its position in India’s insurance landscape while creating meaningful value for customers, employees, partners, and communities.
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