The Centre has elevated three general managers of non-life insurance companies and State-owned reinsurer GIC Re, to the post of directors, even as it is yet to find chairmen for two of these entities.
While TL Alamelu will be moving from United India to New India as a Director, Warendra Sinha, currently Managing Director of GIC Housing Finance, will take over as Director of National Insurance.
Similarly, V Eshwar Kaimal will move from United India to Oriental Insurance as Director, sources familiar with the development told PTI.
Segar Sampat Kumar, General Manager at New India, had already been elevated to the post of Director by the Centre a few months ago and had been asked to join GIC Re as Director.
Kumar fills the vacancy created by the elevation of Sanath Kumar, now Chairman and Managing Director of National Insurance. But he is yet to assume office.
Of the newly-elevated directors, only two – Warendra Sinha and Alamelu – are eligible for the posts of CMD as both of them have residual services of over two years.
Interviews slated
Meanwhile, 27 deputy general managers, working at the four State-run general insurers, are likely to appear for interviews for the posts of 12 general managers, in New Delhi on September 24.
However, two posts of CMD at Oriental Insurance and United India remain vacant following retirement of AK Saxena from the former and Milind Kharat from the latter sometime back. Even after several months, the Centre is yet to start the process of finding suitable candidates to fill up these two positions.