In a significant leadership move, the Government of India has appointed Ajay Seth, former Secretary of the Department of Economic Affairs, as the new Chairman of the Insurance Regulatory and Development Authority of India (IRDAI). His tenure will span three years or until the age of 65, whichever is earlier.
A 1987-batch IAS officer from the Karnataka cadre, Seth brings over three decades of public service experience, including his recent role as Finance Secretary where he played a key part in India’s G20 presidency, green bond framework, and infrastructure policy.
His appointment comes at a pivotal moment for IRDAI, which is undergoing a series of transformative reforms aimed at expanding insurance penetration, introducing digital infrastructure, and updating key regulatory frameworks. Seth is expected to accelerate the rollout of the ambitious Bima Trinity initiative, comprising Bima Sugam (unified digital platform), Bima Vistaar (composite insurance product), and Bima Vahaak (community-based distribution).
The IRDAI chair had remained vacant since March 2025, following the completion of Debasish Panda’s tenure. Seth’s entry is being seen as a decisive step to restore momentum on critical insurance sector reforms, especially as the government prepares to table the Insurance Laws (Amendment) Bill in the upcoming parliamentary session.
With his deep economic insight and reformist track record, Ajay Seth is poised to lead IRDAI into a new era of innovation, inclusivity, and regulatory modernization.
