Ashish Lakhtakia : Championing Compliance, Governance, And Strategic Growth Through Legal Foresight
Ashish Lakhtakia
General Counsel
He has played instrumental roles in asset reconstruction, raising over ₹200 crores through a PLC listed on the AIM, London, and leading distressed assets fund management initiatives worth ₹3000 crores. His insurance sector journey spans leadership roles at Aditya Birla Sun Life, Reliance Nippon Life, and Edelweiss General Insurance (now Zuno Insurance).
Currently, at Future Generali India Insurance, he serves as General Counsel, Chief Regulatory Affairs, Fraud Risk & Surveillance, TP Litigation and Company Secretary. Ashish is known for transforming the perception of legal, Governance and regulatory affairs functions into business enablers and is a strong advocate of zero tolerance for any regulatory non-compliance. He also plays a significant role at the industry level, serving on IRDAI’s Regulation Review Committee to drive progressive, principle-based regulatory reforms in the insurance sector.
Engaging in an immersive interaction with CEO Insights magazine, Ashish shares his leadership approach, future roadmap, and much more. Let's read about it.
What is your mantra for success?
My success mantra revolves around two key principles, always be proactive and think sharply when analyzing and planning. I have never viewed legal, governance, risk, and compliance as merely control functions. Instead, I see them as strategic tools that can enable business decisions.
I guide business leaders in making clear and balanced decisions. I am striving
to change the way the legal, governance and regulatory affairs department is viewed, from just a ‘Support Pillar’ to a 'Business Enabler'.
How do you identify and mitigate potential legal risks?
Our compliance systems are fully automated, including our Legal Compliance Management Portal and AML/KYC monitoring, integrated with vendor based digital solutions. We leverage on digital tools for risk control self-assessment, heat maps, and regulatory risk tracking.
My team monitors regulatory updates, converts them into actionable workflows, and assigns clear ownership through automated systems. Each business function head ensures compliance and confirms it quarterly. I rigorously review all inputs before presenting the final compliance status to the board.
How would you define your leadership style and the methodologies you follow as a leader?
My leadership style is proactive, aggressive, and empowering. I anticipate challenges, ensuring my team is always prepared. I emphasize delegation with clear account ability, fostering autonomy and confidence. I oversee five key functions including Legal, Secretarial, Regulatory Affairs, TP Claims, and Fraud Risk and Surveillance and conduct monthly reviews to maintain alignment and direction. My ‘Nip in the Bud’ approach, supported by transparency and an open-door policy, helps address issues early. I proactively plan offsites, team lunches/ dinners, and regular meetings to strengthen team harmony.
What future goals are you currently working towards?
Recently, I have taken on an expanded role as General Counsel for Generali Group in India, overseeing life and non-life businesses. This role leverages my legal and regulatory expertise to drive strategic initiatives. I aspire to transition into core business leadership roles, such as CEO or Business Director. My goal is to lead with a vision that aligns with the company’s objectives, fostering growth and innovation.
I believe that my experience and perspective would be valuable in shaping policies and making informed decisions that drive the company's success and am
How do you identify and mitigate potential legal risks?
Our compliance systems are fully automated, including our Legal Compliance Management Portal and AML/KYC monitoring, integrated with vendor based digital solutions. We leverage on digital tools for risk control self-assessment, heat maps, and regulatory risk tracking.
My team monitors regulatory updates, converts them into actionable workflows, and assigns clear ownership through automated systems. Each business function head ensures compliance and confirms it quarterly. I rigorously review all inputs before presenting the final compliance status to the board.
I work closely with business leaders to guide them in navigating legal frameworks confidently
How would you define your leadership style and the methodologies you follow as a leader?
My leadership style is proactive, aggressive, and empowering. I anticipate challenges, ensuring my team is always prepared. I emphasize delegation with clear account ability, fostering autonomy and confidence. I oversee five key functions including Legal, Secretarial, Regulatory Affairs, TP Claims, and Fraud Risk and Surveillance and conduct monthly reviews to maintain alignment and direction. My ‘Nip in the Bud’ approach, supported by transparency and an open-door policy, helps address issues early. I proactively plan offsites, team lunches/ dinners, and regular meetings to strengthen team harmony.
What future goals are you currently working towards?
Recently, I have taken on an expanded role as General Counsel for Generali Group in India, overseeing life and non-life businesses. This role leverages my legal and regulatory expertise to drive strategic initiatives. I aspire to transition into core business leadership roles, such as CEO or Business Director. My goal is to lead with a vision that aligns with the company’s objectives, fostering growth and innovation.
I believe that my experience and perspective would be valuable in shaping policies and making informed decisions that drive the company's success and am
therefore keen on contributing at the board level.
What advice would you offer to aspiring leaders entering the industry today?
My advice for the aspiring leaders would be to never stop learning, always keep exploring innovative ideas and be proactive, especially in a country like India, where regulations change rapidly and frequently.
Ashish Lakhtakia, General Counsel, Future Generali India Insurance
Ashish Lakhtakia, General Counsel at Future Generali India Insurance has done his Bachelors in Science, Bachelors in Laws and holds a Masters in Labour Laws and Personnel Management (MLPM) from University of Lucknow and have also completed Senior Management Programme from Indian Institute of Management Ahmedabad. He is also a Fellow member of the Institute of Company Secretaries of India. He has built a distinguished career across sectors, starting from Scooters India, followed by key roles in Bagrry’s India, Alchemist ARC, Arcil, Aditya Birla Sun Life, Reliance Nippon Life, and Zuno Insurance.
•Hobbies: Cooking
•Favorite Cuisine: Indian
•Favorite Book: The Art of War by Sun Tzu, No Rules Rules by Reed Hastings and Erin Meyer
•Favorite Travel Destination: London
•Awards and Recognition:
•Governance Professional of the Year for Future Generali India Insurance
•National Award for Excellence in Corporate Governance for Aditya Birla Sun Life Insurance and Future Generali India Insurance Company in the year 2022
•Recognized by BW Business world as one of the Top 100 General Counsels across the globe.
•Awarded Best Chief Legal & Compliance Officer and Company Secretary at the 5th India Insurance Awards 2022 by Insurance Alert.
•Named among the Top 10 Chief Legal Officers by CEO Insights in 2023.
•Recognized as one of the Top 5 Iconic CCOs to Watch in 2023 by The CIO Today.
•Included in the BW Legal World Top 100+ General Counsel 2023.
•Awarded Best Legal Team at the 4th Edition Future of Legal & Compliance Summit and Awards by UBS Forums.
•Inducted into the GC Hall of Fame 2024 as a leading In-house Counsel of India by Law Wiser.
•Recognized as one of India’s Finest GCs 2024 by Legal Era
•Featured in Legal 500 GC Powerlist
What advice would you offer to aspiring leaders entering the industry today?
My advice for the aspiring leaders would be to never stop learning, always keep exploring innovative ideas and be proactive, especially in a country like India, where regulations change rapidly and frequently.
Ashish Lakhtakia, General Counsel, Future Generali India Insurance
Ashish Lakhtakia, General Counsel at Future Generali India Insurance has done his Bachelors in Science, Bachelors in Laws and holds a Masters in Labour Laws and Personnel Management (MLPM) from University of Lucknow and have also completed Senior Management Programme from Indian Institute of Management Ahmedabad. He is also a Fellow member of the Institute of Company Secretaries of India. He has built a distinguished career across sectors, starting from Scooters India, followed by key roles in Bagrry’s India, Alchemist ARC, Arcil, Aditya Birla Sun Life, Reliance Nippon Life, and Zuno Insurance.
•Hobbies: Cooking
•Favorite Cuisine: Indian
•Favorite Book: The Art of War by Sun Tzu, No Rules Rules by Reed Hastings and Erin Meyer
•Favorite Travel Destination: London
•Awards and Recognition:
•Governance Professional of the Year for Future Generali India Insurance
•National Award for Excellence in Corporate Governance for Aditya Birla Sun Life Insurance and Future Generali India Insurance Company in the year 2022
•Recognized by BW Business world as one of the Top 100 General Counsels across the globe.
•Awarded Best Chief Legal & Compliance Officer and Company Secretary at the 5th India Insurance Awards 2022 by Insurance Alert.
•Named among the Top 10 Chief Legal Officers by CEO Insights in 2023.
•Recognized as one of the Top 5 Iconic CCOs to Watch in 2023 by The CIO Today.
•Included in the BW Legal World Top 100+ General Counsel 2023.
•Awarded Best Legal Team at the 4th Edition Future of Legal & Compliance Summit and Awards by UBS Forums.
•Inducted into the GC Hall of Fame 2024 as a leading In-house Counsel of India by Law Wiser.
•Recognized as one of India’s Finest GCs 2024 by Legal Era
•Featured in Legal 500 GC Powerlist