Hyderabad:
T R Alamelu,58, CMD, Agriculture Insurance Company, has taken over as the member, IRDA on Monday.
Alamelu, who was appointed as the member, non-life, IRDAI on March 11, joined her new posting after the government appointed Rajeev Chaudhary, general manager, AIC as the acting CMD of the company for six months.
Alamelu couldn’t leave AIC earlier to join her new posting at the IRDAI as the ministry of finance had not appointed anybody to head AIC.
Since, everything about the crop insurance in the country has been very politically sensitive issue in the country, the government had preferred Alamelu to continue at AIC till naming an acting CMD at the company.
Sujay Banerjee,member(Distribution).was holding the additional charge of member(Non-life) till a regular appointment was made.
Earlier,the Appointments Committee of the Cabinet (ACC) has approved the appointment of Alamelu, as whole-time Member (Non-Life) in the IRDAI for a period of 03 years or until further orders, whichever is earlier,’’ said an order from the DOPT( Department of Personnel and Training).
The post was lying vacant after PJ Joseph retired as the member of IRDAI in Jan 2019, and a top level committee headed by the cabinet secretary PK Sinha had held the interviews on Jan 10 to select Joseph's successor at IRDAI.
The post of member, life, at the IRDAI is also currently vacant after Nilesh Sathe retired on Apr 30.The powerful Financial Sector Regulatory Appointments Search Committee(FSRAC) headed by the cabinet secretary, PK Sinha has already interviewed senior officials of the Life Insurance Corporation(LIC) to choose a new member at the Hyderabad based IRDAI.
Sources point out that K Ganesh, ED,LIC and Vinay Sah, CEO, LIC Housing Finance are the front runners for the member, life.
Alamelu joined the general insurance industry in 1983 as a direct recruit Officer in the New India Assurance.
She has extensive knowledge across an entire gamut of subjects. She has worked in providing specialized Insurance covers such as ISRO’s Satellite, launch and ONGC’s offshore assets, and has also handled property, casualty, motor, marine, health and aviation insurance besides handling reinsurance.