17 hrs ago
LIC and New India Assurance veterans appointed as IRDAI members
The government chose two experienced insurance officials for new roles.
Dinesh Pant previously worked as Managing Director of LIC.
He will now become an actuary member at IRDAI.
Girija Subramanian previously led New India Assurance.
She will become a whole-time member responsible for distribution.
IRDAI oversees and develops India’s insurance sector.
The appointments happen while insurance products and sales methods are changing.
Pant left LIC after choosing voluntary retirement and receiving approval for an early end to his tenure.
The government appointed LIC Managing Director Dinesh Pant as an IRDAI member.
Pant will serve as IRDAI Member (Actuary).
Former New India Assurance chairman-cum-managing director Girija Subramanian was also appointed.
Subramanian will serve as IRDAI Whole-Time Member (Distribution).
The appointments come amid changes in insurance products, distribution and regulatory oversight.
- Who
- Dinesh Pant and Girija Subramanian were appointed as members of IRDAI.
- What
- Pant was appointed Member (Actuary), while Subramanian was appointed Whole-Time Member (Distribution).
- Where
- The appointments are to the Insurance Regulatory and Development Authority of India.
- When
- The appointments were announced in the report; no specific date was provided.
- Why
- They come as the insurance industry undergoes changes in product design, distribution and regulatory oversight.
Key facts
- Dinesh Pant
- Appointed IRDAI Member (Actuary); previously LIC Managing Director.
- Girija Subramanian
- Appointed IRDAI Whole-Time Member (Distribution); former New India Assurance chairman-cum-managing director.
- Appointing authority
- The government.
- Pant’s LIC tenure
- The government approved its premature termination after he opted for voluntary retirement.
- Industry context
- The insurance sector is undergoing changes in product design, distribution and regulatory oversight.
Sources
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