In the general insurance industry, numerous senior profiles are vacant. This is especially in the state-owned insurance companies. The vacant profiles are of the Chairman and Managing Director (CMD) at National Insurance Company, General Insurance Corporation of India, apart from member (non-life) and Insurance Regulatory and Development Authority of India (IRDAI).
In the National Insurance Company, the post is vacant from March 2014 and state-owned insurance companies have been given extra charge of this post. According to the sources, interviews for both the profiles were held on July 15, the final conclusions are still awaited.
The authority is also looking for the appointment of member (non-life) since the retirement of M Prasad from the post in May, 2015.Whereas the interview process for the post has taken plan on May 8, the decision is yet to be known.
Industry sources said P J Joseph, CMD of Agriculture Insurance company, was selected for this post, but official orders have not been provided.
In state owned insurance companies, the ACC takes a final call on appointments. Each government general insurance company also appoints two general managers as permanent director. Some of these posts are also lying vacant.