The New India Assurance Co. Ltd. has announced the appointment of Mr. S. Sivasankar as Executive Director, effective from the date of assuming charge. Mr. Sivasankar, formerly the General Manager of National Insurance Company Limited, brings over 20 years of experience in insurance, finance, and accounting. His tenure is set until his superannuation date of July 31, 2028, following approval from the Ministry of Finance.
Board Reshuffle: Executive Director Appointment Confirmed
The New India Assurance Company Limited (NIACL) formally disclosed the appointment of Mr. S. Sivasankar to its Board as an Executive Director. This decision was officially conveyed via notification from the Ministry of Finance, Department of Financial Services, dated February 16, 2026.
Key Details of the Appointment
- Appointee: Shri S. Sivasankar (DOB: 28.07.1968)
- Previous Role: General Manager (GM) at National Insurance Company Limited (NICL).
- New Designation: Executive Director (ED) at NIACL.
- Pay Scale: Level 14A (Rs. 1,76,800-2,24,000).
- Tenure: Effective from the date of assumption of charge until his attaining the age of superannuation, which is 31.07.2028, or until further orders.
Professional Background
Mr. S. Sivasankar possesses extensive experience spanning more than 20 years within the General Insurance Industry. His long tenure has involved managing various critical portfolios, particularly focusing on finance, audit, and accounting functions within National Insurance Company Limited.
Compliance Affirmations
The Company Secretary affirmed that, in accordance with established corporate guidelines, Mr. S. Sivasankar is not related to any other Director currently serving on the Board of NIACL. Furthermore, the company affirms that the newly appointed Director is not debarred from holding a director’s office by any order issued by the relevant authorities.
Source: BSE
