New Delhi/Mumbai: The chairmen of two of the four state-owned general insurance companies are retiring this year—V. Ramasaamy of National Insurance Co. Ltd in May and B. Chakraborty of New India Assurance Co. Ltd in September.
The search committee comprising insurance regulator J. Harinarayan, his predecessor C.S. Rao and a finance ministry official have recommended N.S.R. Chandra Prasad, director and general manager at New India and R.K. Kaul, general manager at National Insurance, as replacements.
A finance ministry official, who did not want to be named, confirmed these recommendations, but also said the appointments committee has yet to take a view on this.
M. Ramadoss, chief of Oriental Insurance Co. Ltd, is aiming at the top slot in New India, the largest of the four insurers, said industry people familiar with the development.
The finance ministry official said a decision on this might be left to the next government.