MUMBAI: Nearly forty candidates including VK Sharma, chairman of Life Insurance Corporation, and G Srinivasan chairman of New India Assurance are lining up to try their luck in becoming the chairman of Insurance Regulatory and Development Authority of India.TS Vijayan, the current chairman, will leave office on February 21, 2018. Vijayan was the first chairman from the insurance industry and was appointed by the previous government.The government has received over 40 applications including from chairman of the state-owned insurance firms, chairman and three managing directors of Life Insurance Corporation, top bureaucrats including retired chief secretaries of Andhra Pradesh, Telangana and Karnataka. "The list of applicants include chairman of LIC VK Sharma and New India Assurance chairman G Srinivasan," said the source. "Several bank chairmen and executive directors have applied after the criteria was revised by the ministry. He would be eligible for reappointment and have a minimum of two years of residual service on the date of vacancy or not be more than 63 years of age 21 on February 2018.

Source: Economic Times January 08, 2018 04:52 UTC