HYDERABAD: A New Chapter for IRDAI

Ajay Seth, the former finance secretary and department of economic affairs secretary, has been appointed as the new chairman of the Insurance Regulatory and Development Authority of India (IRDAI). This marks a significant transition for the regulatory body, headquartered in Hyderabad.

Seth, who was the frontrunner for this prestigious position, has been entrusted with the role for a term of three years or until he reaches the age of 65, whichever comes first. His appointment concludes the extensive search for a leader to fill the vacancy left by Debashish Panda in mid-March.

Challenges and Opportunities Ahead

Taking the helm at a critical juncture, Seth faces the task of advancing key initiatives like Bima Sugam, Bima Vistar, and Bima Vaahaks, which were pending following Panda's departure. With a rich background in economic policy-making and over three decades of experience, Seth's expertise in public finance, tax policy, and infrastructure funding is expected to drive IRDAI's mission forward.

A Stellar Career and Educational Background

A retired IAS officer from the 1987 Karnataka cadre, Seth has an impressive academic record, holding a BTech in mechanical engineering from IIT Roorkee and an MBA from the Ateneo de Manila University in the Philippines. His leadership during India’s G20 presidency as the officer-in-charge of the finance track underscores his capability to steer IRDAI towards new horizons.