(THE NEWSMAN OF INDIA.COM) New Delhi, July 24:
The Centre has appointed a new Chairman for the Insurance Regulatory and Development Authority of India (IRDAI), bringing an end to a nearly four-month-long vacancy at the helm of the insurance sector regulator. The position had remained unfilled since March this year, following the completion of Debasish Panda’s term.

The 1987-batch Karnataka cadre IAS officer, who retired as the Union Finance Secretary in June, will succeed Debasish Panda, also a former IAS officer, as IRDAI Chairman. Panda’s three-year term ended in March, and ever since, the post at IRDAI had remained vacant.

The appointment comes at a crucial time when the insurance sector is undergoing key reforms aimed at enhancing penetration, boosting innovation, and strengthening consumer protection. The new chairman will be tasked with steering IRDAI through its ambitious roadmap for a more inclusive and tech-driven insurance ecosystem.

Debasish Panda, a former bureaucrat, had served as IRDAI Chairman since March 2022. His tenure was noted for efforts to simplify regulations and foster industry growth.

The new appointee is expected to bring fresh leadership and strategic vision to the Authority, aligning with the government’s broader goal of financial inclusion and insurance-for-all.

An official notification detailing the appointment and tenure is expected to follow shortly.