The central government has appointed former Finance Secretary Ajay Seth as chairperson of the Insurance Regulatory and Development Authority of India. His three‑year term or service until age 65 begins with today’s official order from the Appointments Committee of the Cabinet.
Career highlights and timing
Ajay Seth is a 1987‑batch Karnataka cadre IAS officer who retired as Finance Secretary on June 30, 2025. His extensive resume includes steering India’s first sovereign green bond issuance and winning the Prime Minister Award for Excellence in Public Administration in 2013. Since then, anticipation had grown around his next posting, with his name shortlisted alongside other senior bureaucrats such as Giridhar Aramane and M Nagaraju.
Why he emerged as frontrunner
Seth policy experience and recent leadership in economic affairs strengthened his candidacy. The government favoured his relative youth and capacity to serve a full tenure, in contrast to older contenders. Debasish Panda March 13 term at IRDAI had created a leadership void which Seth now fills.
Transition and focus areas
Appointing a new IRDAI chief becomes critical at a junction where India pushes for deeper insurance penetration and regulatory reforms, including 100% foreign direct investment proposals. Seth will take charge at the regulator Hyderabad headquarters and lead its drive to simplify policyholder access, strengthen oversight and support industry innovation.
What this means for sector
Seth appointment signals continuity in economic policy, with a steady hand guiding insurance regulation during reforms. His stewardship could bridge regulatory stability with sector growth, helping IRDAI execute its mandate efficiently.
