The Insurance Regulatory and Development Authority (IRDA) have appointed Mr. T S Vijayan as new Chairman replacing Mr. J Hari Narayan, who retired on February 20th.
Former Chairman of Life Insurance Corporation of India, Mr. Vijayan started his career in LIC as Direct Recruit Officer in 1977. He graduated from Kerala University and holds a diploma degree in management.
This appointment would mark a comeback for Mr. Vijayan, after corruption allegations were levied against him regarding investment decisions made by LIC during his tenure. He was recently given a clean chit by the Central Bureau of Investigation and the Central Vigilance Commission. Mr. Vijayan's appointment was finally cleared by the Finance Ministry and the Appointments Committee of Cabinet.
He will be joining the Hyderabad office, said sources in IRDA.