Category : Appointment/ResignationPublished on: September 20 2022
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The government has appointed Thomas M Devasia - a senior executive from the private sector as member (non-life) in the Insurance Regulatory and Development Authority of India (IRDAI).
Thomas M Devasia is currently technical expert at Marsh Insurance Brokers India working in Kochi, Kerala, according to a government notification.
The appointment is first of its kind from the private sector and is a departure from the set tradition of hiring people from public sector insurance companies as members.
IRDAI, is a statutory body formed under an Act of Parliament, Insurance Regulatory and Development Authority Act, 1999 (IRDAI Act 1999), for overall supervision and development of the Insurance sector in India.