CHENNAI: The General Insurance (GI) Council, a lobby body of the non-life insurers in India is looking out for a new Secretary General. To attract a relatively younger person for the post of Secretary General, the General Insurance Council of India (GICI) has modified its regulation for hiring a Secretary General.

The General Insurance Council is a self-regulatory body constituted under Section 64C of the Insurance Act consisting of all general/health/specialised and reinsurers and is registered with the Insurance Regulatory and Development Authority of India (IRDAI).

As per a statement by the industry official, the General Insurance Council is calling now applications from senior officials in the non-life sector for the post.

The Council has set the maximum applicant age as 58 as of 31.7.2022, the pay as negotiable, and a five-year term in order to draw in relatively younger talent.

Previously, the remuneration was a fixed amount of Rs. 350,000 per month, with a three-year term and a 65-year-old maximum age requirement. According to the official, the objective for modifying the eligibility requirements was to draw in younger people.

"A general manager at a non-life insurance firm in the public sector who is about to retire but has no chance of moving up the corporate ladder should consider applying for the position of Secretary General in the Council. Such a worker would have a five-year contract and earn a respectable wage. The same is valid for a senior executive of a private non-life insurance firm, "the offical added.

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