Ashok Shah, a former executive director of LIC was earlier selected by a committee of CEOs of life insurance companies.
S B Mathur, former secretary general of Life Insurance Council has been replaced by V Manickam, former CEO of LIC Pension Fund. Last month, a committee comprising CEOs of life insurance companies had selected Ashok Shah, a former executive director of LIC as S.B. Mathur’s replacement.
But IRDA reportedly preferred V. Manickam, told an official familiar with the development. The committee had nominated three senior executives- Kamaljit Sahay, MD & CEO at Star Union Dai-ichi Life Insurance Co. Ltd, Ashok Shah – former ED of Life Insurance Corporation and V. Manickam - former CEO of LIC Pension Fund to replace Mathur.
V. Manickam is a qualified chartered accountant, having more than 29 years of experience in insurance and pension Industry. He is known for his innovative style of functioning in investments, marketing and administration of both insurance and pension industry.