The government is yet to decide about the dates for holding interviews for selecting two CMDs, one for United India Insurance and another for New India Assurance and nine EDs for six companies
New Delhi:
Six PSU general insurers including GIC Re, who are members of GIPSA(General Insurance Public Sector Association), have promoted 16 of their deputy general mangers (DGMs) as general managers(GMs) on Wednesday.
The six PSU general insurers who are members of GIPSA are- New India Assurance(NIA), Oriental Insurance Company(OIC), National Insurance Company(NIA) and United Insurance Company(UIC), GIC Re and Agriculture Insurance Company(AIC) .
48 DGMs across the six PSUs appeared for the interviews virtually conducted by a panel, sitting in New Delhi, consisting of CMDs of six companies and Prashant Kumar Goyal, joint secretary, Department of Financial Services.
This is for the first time AIC’s two DGMs had participated in the interviews for selecting GMs of GIPSA members.
Both, NIA(KV Raman, Nalin Venugopal, LK Kharbanda,Anjana Saxena) and NIC(Mini George, AS Grover, Sanjay Lalla, S Sivsankar) have seen four of their DGMs getting promoted as GMs, while three DGMs each from GIC Re(S Salvi, CS Iyer, SS Karmakar) and UII(K Subbiah, Sanjay Joshi, CM Manohoran) have got their promotions as GMs . Only two DGMs from OIC(RK Gupta,Vinita Joshi) have been elevated as GMs and no body from AIC got selected.
Nalin Venugopal is currently heading Singapore based India International, a joint venture among four PSU general insurers and GIC Re.
Though, all GIPSA companies for the last two years are following a norm by which promoted GMs are able to continue in their own companies, four newly promoted GMs of NIA need to shifted out of the company as it has no vacancies of GMs for the whole of FY 24-25.
However, sources said the government should have held interviews for the vacancies of nine executive directors in different companies and two CMDs-one for UII and another for NIA, then the number of GM vacancies in different companies would have been more clear.
The CMD panel will also complete promotion exercise for the post of DGMs also this week.
Meanwhile, the government is yet to decide about the dates for holding interviews for selecting two CMDs, one for UII and another for NIA and nine EDs for six companies.