New Delhi:
The Banks Board Bureau (BBB),the official head hunting body for selecting the CEOs of state owned banks and insurance companies, will be virtually interviewing five candidates on Jan 4 to choose the CMD of Delhi based Oriental Insurance Company(OIC).
The post of CM in OIC has fallen vacant after SN Rajeswari was appointed as the member,distribution,IRDAI in November..
The shortlisted candidates who will be appearing for the interview for the OIC CMD post are – Anjan Dey, director and general manager, GIC Re, Shobha G. Reddy, general manager,National Insurance Company(NIC), M. Bhaskar, general manager GIC Re, Suchita Gupta,GM, GIC Re, Surya Swaroop Saxena, GM, Agriculture Insurance Company of India.
BBB, chaired by Bhanu Pratap Sharma,former secretary, Department of Personnel and Training (DoPT), will be announcing the result of the interview on the same day. Debasis Panda, secretary, department of financial services, is also part of panel that would interview the shortlisted candidates for OIC chief.
Anjan Dey, who is already a director, has an edge over others to be selected as CMD of OIC.
Though, Rajeswari has been appointed as the member, IRDAI in November, she is yet to join the Hydearbad based insurance regulatory body as the ministry of finance(MoF) wants a new CMD to take charge of the company before she moves to the IRDAI.
Meanwhile,Dinesh Waghela, director and general manager, the senior most director in the PSU general insurance industry, has put in his papers.Waghela has almost 15 months of residual services to reach 60.
The year 2021 will see large scale top level vacancies in the PSU insurance companies including Life Insurance Corporation(LIC) and the IRDA where Subhas Chandra Khuntia,63,chairman,will be completing his three-year tenure in May.
There will be new CMDs in three PSU general insurance companies starting with the OIC to be followed at Kolkatta based NIC and Chennai based United India Insurance(UII) in June …
While both Tajinder Mukherjee, CMD, NIC and Girish Radhakrishnan, CMD, UII, will be retiring in June, Atul Sahay, CMD, New India Assurance (NIA) will be calling it a day in Feb 2022..
T Susheel Kumar, MD, LIC will be retiring in January end and BBB has already selected Siddarth Mohanty, CEO, LIC Housing Dinance to succeed him.
MR Kumar, chairman, LIC, will be retiring in June and Vipin Anand, MD , LIC and Mukesh Gupta, MD, LIC will be retiring in July and Sep respectively.
LIC's fourth MD Raj Kumar has a tenure upto Jan 2022
Analysts say, most of the top officials pf PSU insurance companies ,who will be retiring this year, will be competing for the post of chairman, IRDA while it would interesting to watch whether Khuntia will be getting extension or not till he reaches 65, by the government.