New Delhi: Oriental Insurance Company Limited's (OICL) Chairperson & Managing Director SN Rajeswari has been appointed as Whole-Time Member (Distribution) of the insurance regulator Insurance Regulatory and Development Authority of India (IRDAI). The Appointments Committee of the Cabinet (ACC) has approved her appointment on Wednesday. According to an order from the Department of Personnel & Training (DoPT), she has been appointed to the post initially for a period of three years, with effect from the date of assumption of charge of the post, or till attaining the age of sixty-two years, or until further orders, whichever is the earliest.
Rajeswari is a Commerce (B.Com.) graduate from Madurai Kamraj University, Madurai. She also holds a Master of Business Administration (MBA) in Finance from Bharathiar University. She is a member of the Institute of Chartered Accountants of India (ICAI). She had joined United India Insurance in 1983 as a direct recruit officer and was subsequently transferred to New India Assurance where she was a chief financial officer. Prior to joining as CMD of Oriental Insurance, she was serving as General Manager and Chief Financial Officer (CFO) at the New India Assurance Company Limited (NIACL).
Insurance Regulatory and Development Authority of India (IRDAI)
The Insurance Regulatory and Development Authority of India (IRDAI) is an autonomous, statutory body tasked with regulating and promoting the insurance and re-insurance industries in India. It was constituted by the Insurance Regulatory and Development Authority Act, 1999, an Act of Parliament passed by the government. The agency's headquarters are in Hyderabad, Telangana, where it moved from Delhi in 2001. IRDAI is a 10-member body including the chairman, five full-time and four part-time members appointed by the government of India.
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