Life Insurance Council's key panel to get 3 members on July 31

The Life Insurance Council will go to polls here on July 31 to elect three members of its Executive Committee (EC).
The three are to be elected from among the six in the fray, all heads of various private life insurers.
Rajesh Sud (Max NY), Tarun Chugh (PNB Met Life), Anup Rau (Reliance Life), Sandeep Ghosh (Bharti AXA), Arijit Basu (SBI Life) and Deepak Mittal (Edelweiss Tokio) are all vying for the panel position.
The state-owned Life Insurance Corporation already has a permanent seat with EC, a key industrial body of insurers.
"Once the three are elected, they, along with LIC Chairman S K Roy, will elect Chairman of EC from among themselves on July 31," Life Insurance Council Secretary General V Manickam told PTI today.

"The name of SHG (self-help group) representative at EC was finalised by the Council during its general body meeting on June 26 in Mumbai," he added.

Meanwhile, sector regulator IRDAI has sent a set of queries to the Council before it finalises the names to represent categories, including agent and intermediary.
The Hyderabad-based watchdog in August will interview five candidates from each of the four categories that have been sent to it by the Council.
The EC members are being appointed in accordance with the changes made in the Insurance Act.
The Life Insurance Council, a forum that connects stakeholders of the sector, develops and coordinates between the government, the regulatory body and the public.