Ex-Finance Secretary Ajay Seth takes charge as Chairman of IRDAI
New Delhi, Sep 1, 2025
Former Finance Secretary Ajay Seth took charge as Chairman of the Insurance Regulatory and Development Authority of India (IRDAI) on 1 September 2025. IRDAI is the industry watchdog with the task of protecting the interests of insurance policyholders.
Former Finance Secretary Ajay Seth on Monday assumed charge as the Chairman of insurance sector regulator Insurance Regulatory and Development Authority of India (IRDAI).
Seth, a 1987-batch Indian Administrative Service (IAS) officer of Karnataka cadre, retired as the Secretary of the Department of Economic Affairs in June after a four-year-long stint.
Seth has assumed the charge of Chairman, Insurance Regulatory and Development Authority of India on September 1, 2025, the regulator said in a statement.
IRDAI is entrusted with the task of protecting the interests of insurance policyholders and bringing about speedy and orderly growth of the insurance industry (including annuity and superannuation payments), for the benefit of the common man and providing long-term funds for accelerating growth of the economy.
It also helps promote fairness, transparency and orderly conduct in financial market dealings with insurance and build a reliable management information system to enforce high standards of financial soundness among market players.
Govt appoints former IRDAI Chief
The government, on 24 July 2025, appointed former Finance and Economic Affairs Secretary Ajay Seth as chairman of the Insurance Regulatory and Development Authority of India (IRDAI).
The Appointments Committee of the Cabinet has approved Seth's appointment as chairperson of the insurance regulator for a period of three years or till the incumbent attains the age of 65 years or until further orders, whichever is the earliest, a government notification said.
The appointment of IRDAI chairman comes nearly four months after the vacancy was created following Debasish Panda completing his term in March this year.
As per the procedure for the appointment of regulators, the name is suggested by the Financial Sector Regulatory Appointments Search Committee (FSRASC) headed by the Cabinet Secretary.
Based on interaction with eligible candidates, FSRASC recommends the name to the Appointments Committee of the Cabinet, headed by Prime Minister Narendra Modi, for its final approval.
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