Lavanya Mundayur, general manager and chief underwriting officer, New India Assurance
Mundayur is the youngest general manger in the PSU general insurance industry and will retire in May 2029
New Delhi: The Financial Services Institutions Bureau(FSIB) has selected Lavanya Mundayur, 55, general manger and chief underwriting officer, New India Assurance(NIA) as the new CMD in New Delhi based Agriculture Insurance Company(AIC) on Thursday.
Mundayur, who had joined NIA in 1991 as an officer, is currently the youngest general manger in the PSU general insurance industry and will retire in May 2029.
“She is being considered as one of young leaders in the industry and has worked in overseas markets like Dubai and Singapore. The government wants to nurture her for future higher responsibilities in the industry,” said Ministry of Finance sources.
Analysts pointed that in all earlier interviews for selecting CMDs of United India Insurance and GIC Re, the senior most among the short listed candidates were selected whereas in AIC’s case the junior most was selected.
The CMD post of AIC has fallen vacant after Girija Subramanian was appointed as the CMD of New India Insurance(NIA) in June.
Subramanian, though already a CMD, had appeared for the FSIB interview before she was appointed as the CMD of NIA.
The FSIB, the headhunting agency for the posts above executive directors in the PSU banks and insurance companies, had interviewed five candidates for selecting a CMD of AIC on Thursday.
“Now, Mundayur name will be processed by the department of financial services(DFS) before being approved by the Appointments Committee of Cabinet(ACC) headed by the Prime Minister.” said sources at Ministry of Finance.
The general managers (GMs) who had appeared for the interview are – V Balkrishna and Jayshree Bala from GIC Re, Rekha Solanki, GM and chief marketing officer, Oriental Insurance Company, Mathew George , Managing Director and CEO of Health Insurance TPA of India Ltd (HITPA), Mundayur.
Earlier, the department of financial services (DFS) had earlier tweaked one of its important eligibility criteria, because of shortages of eligible officials, where a GM needs to have two years of experience, to be considered for a post of CMD in a PSU genera insurance company.
Meanwhile , the FSIB will also conduct interviews for filling up more than half a dozen of of executive director posts, which are falling vacant in the PSU general insurance companies in couple of months.
CONGRATULATIONS MADAM.
I HAD WORKED WITH U,IN MUMBAI.
VERY PRIUD OF U.
(KUMAR.J)
(RETD.NIA-CHENNAI/MUMBAI)
(8754400121).
CONGRATULATIONS 👍🌷
Congratulations and Best wishes
Madam,
Heartiest congratulations. Another talented New Indian occupying the CMD position of AIC.
Best wishes
Hearty Congratulations!💐
Lavanya. So happy for you & proud of your career graph.
Congratulations on ur promotion! Your ability to lead by example, foster teamwork, and achieve exceptional results have made you an invaluable asset to the organization.
Congratulations my dear sis
Congratulations.
Best Wishes
Siva Prasad Petla
Retd DGM United India
As young and dynamic Officer of New India, she is beacon of light in the near future to lead New India as CMD. Congratulations Lavanya Mam
Congratulations to new CMD of AIC from New India Assurance
Many Many Congratulations
I am a direct recruit 1974 CA and retired
Lavanya ji
Accept my congratulations on your posting as AIC chairman
I wish you a great success in this prestigious engagement too.
Regards
Brk prasad