Key Points
The Financial Services Institution Bureau (FSIB), the agency that looks for chiefs of PSU banks and insurers, has selected N Ramaswamy, General Manager, General Insurance Corporation of India (GIC Re), as the next Chairman and MD (CMD) of the company while M Rajeswari Singh, General Manager & Director (GMD), United India Insurance, has been chosen as the CMD of National Insurance Company (NIC)...
After due approval of the Appointments Committee of Cabinet (ACC), Ramaswamy will get a two-year term..
Normally, the government in recent years has preferred to choose a GIC Re insider to head the institution as the person needs to have reinsurance expertise to run the global company which is Asias third largest reinsurer...
Four shortlisted senior officials who had appeared for the virtual interview are: Ramaswamy, Hitesh Joshi, General Manager, GIC Re, BS Rahul, General Manager, Agriculture Insurance Company...
FSIB, constituted under Bhanu Pratap Sharma, former Secretary, Department of Personnel and Training (DoPT) has three insurance experts Girija Kumar, former CMD of OIC, Sujay Banarji, former Member of IRDAI and Usha Sangwan, former MD of Life Insurance Corporation...
