The Modi government has appointed Thomas M Devasia, a senior executive from the private sector, as a member (non-life) in the Insurance Regulatory and Development Authority of India (IRDAI). This is a departure from the established practice of hiring people from public sector insurance companies as members.
According to a government notification, Thomas M Devasia is currently a technical expert at Marsh Insurance Brokers India in Kochi, Kerala. The central government has appointed Devasia as member (non-life) in the IRDAI with effect from the date of assumption of charge of the post till attaining the age of 62 years until further order, whichever is earlier, it said.
