Union Government appoints Pournima Gupte as IRDA actuary

Union Government has appointed Pournima Gupte as member (actuary) of Insurance Regulatory Authority of India (IRDA).
With her appointment, IRDA got an actuary after a gap of three years. Since 2011, this post was lying vacant after R Kannan retired from IRDA.
It should be noted that for the first time a woman has been appointed on the board of IRDA.
Earlier, Pournima Gupte had worked with Life Insurance Corporation and has worked as actuary at Reliance Life Insurance and IDBI Federal.
About Insurance Regulatory Authority of India (IRDA)

• IRDA is an apex statutory body that regulates and develops the insurance industry in India.
• It was constituted as per provisions of Insurance Regulatory and Development Authority Act, 1999.
• Headquarters: Hyderabad, Telangana.
• Structure and Composition: It is 10 members body consisting of: Chairman, 5 full-time members, 4 part-time members. All members are appointed by Union Government.
• Current chairman of IRDA is T.S. Vijayan.
• On 31^st December 2014, Insurance Regulatory and Development Authority (IRDA) was renamed as ‘Insurance Regulatory and Development Authority of India’.

Month: Current Affairs - January, 2015