Insurance Sector Appointments Delayed Due To Election Process

The directive from the Election Commission of India (ECI) to the Finance Ministry, prohibiting fresh recruitment and appointments until the conclusion of the election process, will impede top-level appointments within the insurance sector.

This directive will effectively halt new appointments, including those of Member (Distribution) at IRDAI, two CMDs at New India Assurance and United India Insurance, and nine executive directors across six general insurance companies, including GIC Re and Agriculture Insurance Company, until 4 June, when the general election results are declared, according to an insurance sector official.

"The Commission has stipulated that while promotions and transfers of officers are permissible, officials involved in election-related duties must not be relieved or relocated until the election process concludes. Additionally, recruitment and fresh appointments must be deferred until the completion of the election process," stated the ECI in a letter to the Finance Ministry.