Ex-LIC chief Mathur on Munich Re board

Former government employees are not permitted to take up positions post retirement for a period of two years, without the approval of the finance ministry.

This is because there could be a conflict of interest if the new position is in the same line of business.

Mathur's appointment on Munich Re's local board will help give inputs and guidance at a time when the global reinsurer is focusing on supporting the entire life insurance industry in the country, stated representatives from Munich Re.

Seen as an ambassador to the Indian insurance industry, Mathur is one of the five directors on Munich Re's life board. Munich Re is the world's largest reinsurance.

Mathur has been appointed as administrator UTI-I. In addition, Mathur also holds board membership in Grasim, EID Parry and will shortly become one of the board directors on ITC.

Mathur's appointment to the board of Munich Re would not raise any issues of conflicts since Munich Re is currently not a reinsurer for LIC.