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The size of funds managed by insurers in the country is expected to reach a whopping level of Rs 30,00,000 crore over the next five years, marking a 70 per cent jump from current level, outgoing insurance regulator J Hari Narayan said recently. Read more
Former Life Insurance Corporation of India (LIC) chairman T S Vijayan is likely to become the next chairman of the Insurance Regulatory and Development Authority (IRDA). According to sources in the sector, he has been proposed by the Union finance ministry and the application sent for final approval. The current chairman, J Hari Narayan, leaves office on Wednesday. Read more
The race for the post of the chairman of Insurance Regulatory Development Authority (IRDA) may not be a done deal yet. The Central Vigilance Commission (CVC), it seems, is frowning at the proposal to appoint T S Vijayan, former chairman of the Life Insurance Corporation of India (LIC), according to sources familiar with the development.