Former finance secretary Ajay Seth appointed as IRDAI chairman

Former Finance and Economic Affairs Secretary Ajay Seth has been appointed by the government as Chairman of the Insurance Regulatory and Development Authority of India (IRDAI) for a three-year term.

The Appointments Committee of the Cabinet approved the appointment of the former IAS officer to the top post at the insurance regulator. The appointment is for a period of three years or till the incumbent attains the age of 65 years or until further orders, whichever is the earliest, the government said.

The 1987-batch Karnataka cadre IAS officer, who retired as the Union Finance Secretary in June, will succeed Debasish Panda, also a former IAS officer, as IRDAI Chairman. Mr. Panda’s three-year term ended in March and ever since the post at IRDAI had remained vacant.