New Delhi: The central government has appointed former Finance and Economic Affairs Secretary Ajay Seth as the new chairman of the Insurance Regulatory and Development Authority of India (IRDAI).Â
His appointment has been approved by the Appointments Committee of the Cabinet for a period of three years, or until he turns 65, or until further orders, whichever comes first.
Seth is a 1987-batch IAS officer from the Karnataka cadre. He retired in June 2025 after serving as Secretary of Economic Affairs for four years. He now takes over the top post at IRDAI nearly four months after the position fell vacant following the completion of Debasish Panda’s term in March.
As per the established process, the Financial Sector Regulatory Appointments Search Committee (FSRASC), led by the Cabinet Secretary, recommended Seth’s name. The Appointments Committee of the Cabinet, chaired by Prime Minister Narendra Modi, gave the final nod.
Seth’s appointment comes at a time when the insurance industry is witnessing rapid changes driven by technology, increasing awareness, and the need for broader financial inclusion. His leadership is expected to guide the regulator in strengthening oversight, improving market efficiency, and expanding insurance coverage across the country.
About IRDAI
IRDAI plays a critical role in regulating and developing the insurance sector in India. It works to protect policyholders’ interests and ensures fair practices across the insurance industry. The regulator also supports the steady and orderly growth of the sector, including annuity and pension products, and helps channel long-term funds into the economy.
