(THE NEWSMAN OF INDIA.COM) New Delhi, March 21, 2025 – The Insurance Regulatory and Development Authority of India (IRDAI) has reconstituted its Insurance Advisory Committee (IAC), bringing in seasoned professionals from the banking, insurance, and asset management sectors. The newly appointed members are expected to play a crucial role in shaping policies for the evolving insurance landscape.

Key Appointments to the IAC:
– M.R. Kumar – Former Chairman of Life Insurance Corporation (LIC) and current Non-Executive Chairman of Bank of India.
– Dinesh Kumar Khara – Former Chairman of State Bank of India (SBI).
– Vishakha Mulye – CEO of Aditya Birla Capital.
– Nilesh Shah – Managing Director of Kotak Mahindra Asset Management Company.
– Alice G. Vaidyan – Former CMD of General Insurance Corporation Re (GIC Re), now serving as an Independent Director on the boards of Air India and Tata AIA Life Insurance.

The newly structured committee is tasked with advising IRDAI on key regulatory and policy matters to ensure a robust and inclusive insurance sector. This move aligns with IRDAI’s vision of promoting efficiency and protecting policyholders’ interests through diverse expertise.

The appointments are effective from the date of the official gazette notification. The inclusion of financial and insurance industry leaders is expected to provide strategic insights for the sector’s growth and modernization.