Some of the officials who have been shortlisted are Mini George, executive director(ED), Agriculture Insurance Company(AIC), S Sivasankar,ED, NIA, CMD of a PSU insurance company, Ashok Lahoty,actuary, National Insurance Company,who is considered as a private sector candidate.
New Delhi:The FSIB, the government’s head hunting agency for selecting top officials (executive directors and above) of PSU financial institutions, will hold interviews of a few senior officials of the industry for the post of CMD of New India Assurance(NIA) on 28th May.
The post will fall vacant as Girija Subramanian,CMD, NIA,the largest general insurer in the country, will be retiring on July 31 after reaching 60.
This is also for the first time that the private sector candidates have been allowed to apply for the post NIA CMD.
Sources in New Delhi said five or six candidates have been shortlisted by the FSIB for the interview.
Some of the officials who have been shortlisted are Mini George, executive director(ED), Agriculture Insurance Company(AIC), S Sivasankar,ED, NIA, CMD of a PSU insurance company, Ashok Lahoty,actuary, National Insurance Company,who is considered as a private sector candidate.
All of these officials have two years of residual services as on Aug 1.
Subramanian was CMD of Delhi based Agriculture Insurance Company had faced FSIB again before being selected as CMD of NIA.
This is for the first time that private sector candidates have been allowed to apply for the NIA’s top job.The government, since Oct 4, has thrown open one post of managing director(out of four posts) in Life Insurance Corporation (LIC) and all the posts of CMDs at PSU general insurance companies for the private sector professionals.
The last date for applying the NIA’s job was Apr 21.
This will be also the last interview to be conducted by Bhanu Pratap Sharma headed FSIB as the tenure of all the members(banking and insurance experts) and chairman are coming to an end on June 30. ,
Last year, the Centre had extended the tenure of the chairperson and members of the FSIB by one year, allowing them to continue in office till June 30, 2026.
From the insurance sector,the FSIB has part-time members including Usha Sangwan, former MD of LIC, A V Girija Kumar, former CMD of Oriental Insurance Company and Sujay Banarji, former whole-time member (distribution) at IRDAI. The government is yet to name a FSIB team.
The government had also started the process of appointing new EDs in the public sector general insurance companies.
However, the interview for new EDs have to wait till new members of the FSIB are appointed, said sources.