Two in race for key Irdai post

New Delhi: After the selection of Member (Non-life), the Insurance Regulatory and Development Authority of India (IRDAI) is all set to appoint the Member (Life) soon. The post has fallen vacant post-the retirement of Nilesh Sathe on April 30 this year.

Among the candidates interviewed by a select panel, Vinay Sah, Managing Ddirector and Chief Executive Officer of LIC Housing Finance and K Ganesh, Executive Director, Corporate Communications, of LIC of India, are in the final lap for wining the post.

According to a Finance Ministry source, eight candidates appeared for the interview for the post. “The panel is in the process of selecting the right candidate, but we hope, out of the eight appeared for interview, Sah and Ganesh are likely to have a fair chance for the post of Irdai member (life) due to their seniority and other eligibility parameters,” the source said.

Since the general elections are on, the appointment would be announced after the formation of a new government at the Centre. Earlier, the insurance regulator had also selected the Member (Non-life), but the appointment is yet to be done.

“The candidates appeared were: P Venugopal of Insurance Institute of India (III), Vinay Sah, K Ganesh, MK Chawla, (MD & CEO, LIC Cards), Sharad Srivastava (ED, Co-ordination, LIC), Prem Kunnel (ED, IIB), Mukesh Gupta (ED, Personnel, LIC) and Kiran Sahdev (ED, HRD, LIC). Though Susheel Kumar, MD, LIC was also selected for the interview, he didn’t appear.