SN Rajeswari, General Manager, New India Assurance (NIA), has been selected by the Banks Board Bureau (BBB) as the Chairman and MD of Oriental Insurance Company after an online video interview process in the wake of the lockdown. The BBB had conducted virtual interviews of five senior general managers of the public sector general insurance industry – with two years of residual services till May 2022 – to select a CMD for OIC. AV Girija Kumar, CMD, OIC, is retiring this month end on reaching 60. For the first time, the interviews for selecting a CMD were done through video conferencing, with the nation under lockdown to check the spread of Covid-19. Currently, B P Sharma heads a seven-member panel to select CMDs of PSU insurance companies and banks. In a unique practice, BBB has preferred, for the second time, to announce the result of the interview on the same day. Earlier, results of interviews for selecting CMDs of GIC Re and Agriculture Insurance Company were announced the same day. Other general managers who appeared for the interview were Dinesh Waghela (OIC), Sobha Reddy (NIC), Deepak Godbole (GIC Re) and Madhulika Bhaskar (GIC Re). Rajeswari, a chartered accountant, is currently the second senior most GM of the public sector general insurance industry and will retire in May 2022.
- General insurance industry will witness slow growth in Q1: Care Ratings
- Merger of PSU general insurers on back burner due to Covid-19