Govt appoints S.N. Rajeswari as member(Distribution), IRDAI

New Delhi: The government has appointed S.N. Rajeswari,58, Chairman & Managing Director, Oriental Insurance Company(OIC) as th member (Distribution), IRDAI on Wednesday.

The Appointments Committee of the Cabinet has approved the appointment of Rajeswari, as Whole-Time Member (Distribution) in Insurance Regulatory and Development Authority of India (IRDAI), initially for a period of three years, with effect from the date of assumption of charge of the post, or till attaining the age of sixty-two years, or until further orders, whichever is the earliest, said an order by the Dept of Personnel and Training(DoPT).on Wednesday.

The post was lying vacant after Sujay Banerjee had retired from the post in February. However, the government is yet to announce the appointment of member(Actuary) though the interview for the post was held on the same day when the interview for the member, distribition had happened on Oct 09.

The post of member actuary had fallen vacant after Pournima Gupte completed her five year tenure in Januray..

A a top panel headed by Cabinet Secretary Rajiv Gauba had virtually interviewed 8 candidates and six actuaries for selecting the member, distribution and member, actuary, in the IRDAI, respectively. 

Besides chairman,insurance regulator IRDAI has five full-time members on its board. Apart from member-distribution and actuary, other members include life, non-life and finance and investment.

Rajeswari had taken over as the CMD of OIC  in August.. She is a qualified charted accountant anf  had started her career as an insurer with the Chennai base United India Insurance(UII) and was later shifted to NIA as a deputy general manager(DGM).    .

After Rajeswari takes over as the member, IRDAI, the government has to fill the post of CMD at OIC.Girish Radhakrishnan, CMD, United India Insurance(UII) and Tajinder Mukheerji, CMD, National Insurance Company will also be retiring in June 2021.

Source: Asia insurance post