New Delhi, Oct. 27: The finance ministry today issued orders announcing the appointment of Mathew Verghese as member, non-life division of the Insurance Regulatory Development Authority (IRDA).
The position has been vacant since R. C. Sharma retired in June.
Verghese is a retired official of New India Assurance and the chief executive of KenIndia Insurance, a joint venture between Life Insurance Corporation and General Insurance Corporation.
He is expected to assume office at the start of next month.
Sources reveal there were six other candidates in the fray for the post. They included K. K. Sreenivasan, chief executive, tariff advisory committee; M. Raghavendra, general manager, GIC; Y. P. Chopra, secretary, insurance council; M. D. Gardhe, general manager, New India; C. H. Sharbaayya, general manager, United India Insurance; and A. Ray, general manager, National Insurance.
The candidates were earlier screened by a selection committee.