The Indian government has appointed new Executive Directors in Oriental Insurance and New India Assurance, two leading public sector insurers. These appointments come as part of efforts to strengthen the leadership of these organizations, which play a crucial role in India’s insurance sector.
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New India Assurance, founded in 1919 and headquartered in Mumbai, is the market leader with a Gross Written Premium (GWP) exceeding Rs. 30,000 crore. Oriental Insurance, established in 1947 and based in New Delhi, reports a GWP ranging between Rs. 15,000 crore and Rs. 20,000 crore. Both insurers, operating under government oversight, hold substantial investment portfolios and contribute significantly to India’s economy.
Appointments of Executive Directors
- Ms. Rekha K Solanki, currently serving as General Manager at Oriental Insurance Company Limited (OICL), has been appointed as Executive Director of OICL in Level 14A pay scale (Rs. 1,76,800-2,24,000). She will hold the position until her superannuation on May 31, 2027. Ms. Solanki has been instrumental in various company initiatives, including receiving an award from the Government e-Marketplace (GeM), presented by Ms. Anupriya Patel, Minister of State for Commerce and Industry. She also played a key role in inaugurating OICL’s Corporate Business Office in Ahmedabad in August 2023. Her appointment as Executive Director follows a rigorous selection process conducted by FSIB in October 2024.
- Mr. Mathew George, presently General Manager at Oriental Insurance Company Limited, has been appointed as Executive Director of OICL in Level 14A pay scale (Rs. 1,76,800-2,24,000). He will serve in this capacity until his superannuation on August 31, 2026.
- Ms. Sreedevi Sreedharan Nair, currently General Manager at New India Assurance Company Limited (NIACL), has been appointed as Executive Director at National Insurance Company Limited. She will serve until her superannuation on May 31, 2026. Ms. Nair holds an MBA from Cochin University of Science and Technology and has 34 years of experience in the insurance sector, having held various leadership roles, including Regional Manager and Deputy General Manager. In November 2024, she was appointed as Chief Underwriting Officer of NIACL. Following her elevation to Executive Director, she ceased her previous roles as of March 21, 2025.
- Ms. Kasturi Sengupta, formerly General Manager at New India Assurance Company Limited, has been appointed as Executive Director at National Insurance Company Limited. She will serve until her superannuation on March 31, 2026. Ms. Sengupta holds a postgraduate degree in Science from Jadavpur University, is NET and UGC qualified, and is a Fellow of the Insurance Institute of India. She has also earned advanced diplomas in health and marine insurance and a diploma in IT. Throughout her career at National Insurance Company Limited, she has managed multiple portfolios, including Miscellaneous & Liability, Aviation, Rural, Micro, and Crop Insurance Operations.
These appointments reflect the government’s focus on strengthening the leadership of public sector insurers to enhance operational efficiency and strategic decision-making in the insurance sector.
