Key Appointment Details
The Ministry of Finance, via Order No. F.No.A-11011/09/2026-Ins.I, has assigned additional charge to Mr. S Sivasankar, Executive Director, for the position of Chairman-cum-Managing Director (CMD) of The New India Assurance Co. Ltd.
Effective Date: From the date of vacancy, i.e., August 1, 2026
Tenure: Initial period of 3 months or until a regular CMD is appointed or until further orders, whichever occurs earliest.
Professional Profile of Mr. S Sivasankar
- Joined National Insurance Company Ltd. (NICL) as a Direct Recruit (Generalist) officer in 1991
- Commerce graduate
- Professional qualifications: Fellow of Insurance Institute of India [FIII] and Associate diploma in Marine Insurance from Insurance Institute of India
- Total experience: 33 years in various capacities within NICL
- Work experience includes: Accounts in-charge of Divisional Office (8 years), Head of Branch & Divisional Offices (16 years), Corporate and large claims handling under all Lines of Business in Corporate Regional Office (3 years)
- Previously held positions at NICL Head Office: Chief Manager, DGM, and GM looking after different lines of insurance business
- Appointed to the Board of The New India Assurance Company Limited as Executive Director on February 20, 2026
Governance and Compliance Statements
- Mr. S. Sivasankar is not related to any other Director on the Board of the Company as per Companies Act 2013 requirements
- The director is not debarred from holding office by virtue of any SEBI or other authority order, in compliance with BSE and NSE circular dated June 20, 2018