Atul Sahai appointed as New India Assurance CMD for a 5 year term

The Government on Tuesday announced that Atul Sahai will be apponted as Chairman and Managing Director (CMD) of New India Assurance (NIA) for a five year period.

The appointments committee of the cabinet announced that Sahai, currently the general manager at Oriental Insurance, will head NIA following a recommendation from the department of financial services.

The post has been vacant since July 2018 after former CMD G Srinivasan retired.

The country's largest general insurer posted a 56 percent year-on-year (YoY) drop in its net profit at Rs 3.28 billion for the September 2019 quarter.

The challenge for Sahai would be