1. 3 general insurers to get new directors, 2 CMD posts vacant

3 general insurers to get new directors, 2 CMD posts vacant

The government has elevated three general managers of non-life insurance companies and the state-owned reinsurer GIC Re to the post of directors even as it is yet to find the chairmen for two of them

By: | Mumbai | Published: September 8, 2016 7:51 PM
The government has elevated three general managers of non-life insurance companies and the state-owned reinsurer GIC Re to the post of directors even as it is yet to find the chairmen for two of them. (Reuters) The government has elevated three general managers of non-life insurance companies and the state-owned reinsurer GIC Re to the post of directors even as it is yet to find the chairmen for two of them. (Reuters)

The government has elevated three general managers of non-life insurance companies and the state-owned reinsurer GIC Re to the post of directors even as it is yet to find the chairmen for two of them. While TL Alamelu will be moving from United India to New India as a director, Warendra Sinha, who is currently managing director of GIC Housing Finance, will take over as the director of National Insurance.

Similarly, V Eshwar Kaimal will be moving from United India to Oriental Insurance as director, sources familiar with the development told PTI.

Segar Sampat Kumar, a general manager at New India, had already been elevated to the post of director by the government a few months back and he had been asked to join GIC Re as director.

Kumar fills the vacancy created by the elevation of Sanath Kumar, who is now chairman and managing director of National Insurance. But he is yet to assume office.

Of the newly-elevated directors, only two — Warendra Sinha and Alamelu — are eligible for the posts of CMDs as both of them are having residual services of over two years.

Meanwhile, 27 deputy general managers, working at the four state-run general insurers, are likely to appear for interview for 12 general managers’ posts in New Delhi on September 24.

However, two posts of chairmen & managing directors at Oriental and United India, are still lying vacant following the retirement of AK Saxena from Oriental and Milind Kharat from United sometime back.

Even after several months, the government is yet to start the process of finding suitable candidates to fill up these two positions.

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