Ayyappan Chakravarty Seshadri, general manager, New India Assurance(NIA) has been kept as a standby candidate for the ED post at Agriculture Insurance Company(AIC) in case Lavanya Mundayur, who has already been recommended for the post CMD of the company(AIC), receives her appointment letter for the post soon
New Delhi:The Financial Services Institutions Bureau(FSIB), on Thursday, has recommended names to the government for the appontment of five executive directors(EDs) in a few state owned general insurance companies.
FSIB had interviewed 15 general mangers to fill up post of EDs. which are falling vacant by 31st March, 2025, in New India Assurance(NIA), United India Insurance(UII), National Insurance Company(NIC) and Agricukture Insurance Company(AIC).
Interestingly, Lavanya Mundayur. who has already been selected as CMD of AIC and is waiting for her appointment letter from the government , has appeared for the ED interview and got selected.
However, Ayyappan Chakravarty Seshadri, general manager(NIA) has been kept as a standby candidate for the ED post at AIC in case Mundayur becomes the CMD of the company.
“Mundayur has been recommended earlier for the position of CMD at AIC.Therefore,
a reserve candidate has been recommended for the said vacancy,” clarified FS which had for the first time conducted the interviewed three phases over a week between 18-24 October.
Kasturi Sengupta,GM, NIC, has been selected for the ED post at NIA while Sreedevi Nair, GM, NIA, has been selected for a similar vacancy at NIC.
Mathew George, chief executive officer (CEO), Health Insurance TPA of India Ltd, a joint venture of public sector non-life insurance companies, has been recommended for the post of ED at Chennai based (UII).
Rekha K. Solanki,GM,OIC, has been selected for the ED post at NIC.
Keeping in view of performance of GMs at the interview, their overall experience and
the extant parameters, the Bureau has recommended their names for the post of EDs, said the FSIB.
The FSIB’s next job will be to shortlist and interview candidates for filling up post of CMD at OIC as RR Singh will retire in next Feb end. Also one post of ED will fall vacant after Rashmi Bajpai calls it a day on 31st March,2025.