The New India Assurance Company Limited has appointed Mr. S Sivasankar, Executive Director, as the interim Chairman-cum-Managing Director (CMD). This assignment, effective from August 1, 2026, follows an order from the Ministry of Finance and is for an initial period of 3 months or until a regular CMD is appointed. Mr. Sivasankar brings extensive experience from his 33-year tenure at National Insurance Company Ltd.
Leadership Transition at New India Assurance
The New India Assurance Company Limited announced the assignment of additional charge to Mr. S Sivasankar, its Executive Director, for the position of Chairman-cum-Managing Director (CMD). This decision was made pursuant to an order from the Ministry of Finance. The interim appointment is effective from August 1, 2026, coinciding with the date the vacancy arose.
Interim Appointment Details
Mr. Sivasankar’s tenure as interim CMD is set for an initial period of 3 months. This term will continue until such time a regular CMD is appointed or until further orders are issued, whichever is earlier. This move ensures leadership continuity at the helm of the company during the transition period.
Profile of Mr. S Sivasankar
Mr. Sivasankar possesses a rich professional background, having joined National Insurance Company Ltd. (NICL) as a Direct Recruit (Generalist) officer in 1991. He is a graduate of Commerce and holds professional qualifications including Fellow of Insurance Institute of India [FIII] and an Associate diploma in Marine Insurance. Over his 33-year career at NICL, he has garnered experience across various roles in different office levels, including accounts in-charge and leadership positions in Branch & Divisional Offices. He also handled corporate and large claims, and served in various capacities at NICL’s Head Office. Mr. Sivasankar was appointed on the Board of The New India Assurance Company Limited as an Executive Director on February 20, 2026.
Corporate Governance Affirmation
In accordance with the Companies Act 2013, it is affirmed that Mr. S. Sivasankar is not related to any other Director on the Board of the Company. Furthermore, as per SEBI circular requirements, the company confirms that Mr. Sivasankar is not debarred from holding the office of director by any order from SEBI or any other authority.
Source: BSE
