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Jun 10 interview for IRDAI’s member, Non-life, postponed, new date yet to be fixed

by AIP Online Bureau | Jun 8, 2024 | Indian News, Non-Life, Regulation, Reinsurance | 0 comments

After SK Rath, general manager(GM), GIC Re dropped out of the race, CS Radhika, GM, United India Insurance (UII) has been added to the list of five contenders

New Delhi: In a last minute development, the government has postponed the interview scheduled on June 10 for selecting member, Non-life. IRDAI and no new date for the interview has been announced yet.

Five candidates were supposed to be interviewed on Monday for the post of member, Non-life at Hyderabad based insurance regulator IRDAI.

After SK Rath, general manager(GM), GIC Re, dropped out of the race, CS Radhika, GM, United India Insurance (UII) has been added to the list of shortlisted contenders.

The other candidates are – Rajeshwri Singh, CMD, National Insurance Company, Randip Singh Jagpal, executive director, IRDAI and private sector candidates are -Balasubramanian Pulicat, GM, Saudi Arabian Insurance Company and Sanjay Jha, GM, Oman Insurance.

Pulicat had started his career with United India Insurance in 1988 while Jha was on officer in Life Insurance Corporation(LIC).

Financial Sector Regulatory Appointment Search Committee (FSRASC), headed by cabinet secretary Rajiv Gauba, will be interviewing all the candidates on a new date.

The post of member, Non-life, IRDAI will fall vacant after incumbent Thomas M Devasia retires on July 12,  after completing his 22-month tenure at the insurance regulatory body.

Devasia was the second private sector candidate to be appointed as a member at the IRDAI after Rakesh Joshi, who was earlier appointed as member Finance and Investment of the IRDAI.

However, this time somebody from the PSU insurance industry will be selected as member, Non-Life, said government sources.

The Financial Sector Regulatory Appointment Search Committee (FSRASC), headed by cabinet secretary Rajiv Gauba, will interview all the candidates for choosing the IRDAI’s non-life member.

Singh had taken over as the CMD of NIC in July 2023 and has still couple of years for retirement.

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