Swaminathan S. Iyer, Member-designate, Life, IRDAI
“The Appointments Committee of the Cabinet (ACC) has approved the Swaminathan to the post of Whole Time Member (Life), Insurance Regulatory and Development Authority of India (IRDAI) for a period of five years from the assumption of charge of the post or until he attains the age of 62 years or untill further orders,” said a ACC order on Monday
New Delhi: The government, on Monday, has appointed Swaminathan S. Iyer,57, Executive Vice President – Head Legal, Company Secretary and Regulatory Affairs & ESG, Tata AIA Life Insurance as the new Member, Life, IRDAI, with a five-year tenure, on Tuesday.
The post had fallen vacant after BC Patnaik, resigned from the post in Oct, 2024.
This is for the first time that one of the private sector professionals has been appointed as the Member, Life, at the IRDAI.
Ever since it was established, Member, Life has always been appointed from Life Insurance Corporation.
“The Appointments Committee of the Cabinet (ACC) has approved the Swaminathan to the post of Whole Time Member (Life), Insurance Regulatory and Development Authority of India (IRDAI) for a period of five years from the assumption of charge of the post or until he attains the age of 62 years or untill further orders,” said the a ACC order on Monday.
Swaminathan, a qualified company secretary, has been working with Tata AIA for over last 14 years and before that was with HDFC Life since 2000.
He had started his career with HDFC Ltd and has also exposure in the banking industry Reinsurance, Management, Mergers & Acquisitions (M&A), Corporate Governance, and Management Information Systems (MIS).
Congratulations sir
Mr Iyer is not die hard expert in Life Insurance domain.He is basically a qualified Company Secretary, his profile list out banking, reinsurance, regulatory compliance,mergers & acquisitions, Corporate governance, management & MIS.
Member ( Life) needs to be thorough domain man having extensive experience in Life Insurance(LI) underwriting, Life Insurance Marketing & distribution and LI Claims not a management & legal expert.
GOD save the life insurance industry in India being overloaded by such non experts.
Respectfully, I disagree with this perspective. While deep domain expertise in Life Insurance is valuable, leadership in the industry also requires a broader understanding of regulatory compliance, corporate governance, risk management, and financial structuring—areas where professionals like Mr. Iyer brings immense value.
The Life Insurance sector is not just about underwriting, marketing, and claims; it also requires a strong foundation in governance, strategic decision-making, and financial stability.
A well-rounded leader with diverse expertise can contribute significantly to the industry’s growth and sustainability. Instead of dismissing professionals from different backgrounds, we should recognize the value of a multi-disciplinary approach in shaping the future of Life Insurance in India.
Congratulations ..
Hope he will bring value to the post, With such an illustrious career He is the right person for this post
Kudos to IRDAI for going beyond LICI
Congratulations Sir
Happy to see someone from private insurance player in this role .
Hoping to see some gamechanger for life insurance sector.
Congratulations
Awesome, congratulations
Congratulations sir..
Heartiest congratulations to you Swami Sir. This is an very good and inspirational news for winner Tata AIA team. All the best..
Congratulations Swaminathan ji.Wishing you Good Luck.
Congratulations Swami Sir…Good person for the Post
Heartiest Congratulations Sir!
I wish and hope that he will advise IRDAI Board to set things right.
Immense damage has been done to the Insurance Sector with frequent changes and statements issued by the regulator IRDAI in the past few years!
Customer has lost faith in Insurance Sector because of this. Insurance penetration which was already low has dipped down further! No step has been taken to look after the interests of Agents, Advisors. No steps has been initiated to hone their skills, quality and ease of doing insurance.
Tata AIA folks do not respond to customers. If their senior executive joins IRDA, it will be a disaster for the entire life insurance customers in India.
Congratulations Swami. Best wishes for success in your new endeavor.
Hearty congratulations Balu .God bless you for successful 5 years of journey with IRDAI.vv grp is very proud of you Balu
Hearty Congratulations Swami jee. A proud moment in the 25 year history since the advent of private Insurers in our country.
Congratulations 🎉
Hearty Congratulations to Swami on this prestigious post. We also wish you many more such accolades in future. Best wishes
Hearty Congratulations to Swami on this prestigious post. We also wish you many more such accolades in future. Best wishes
Congratulations
Heartiest Congratulations dear Swami! God bless you abundantly to do your best and do justice to the post and definitely you will. We are very proud of you as always .
It’s proud moment for me and everyone at Tata Aia Life. People like you are much needed for this or even more to make life insurance more fair and customer friendly. Good wishes for the new assignment.
Congratulations sir, Try to help people for claim settlement quickly