Executives are on the move in the life insurance industry. When the private players entered the arena, it was the Life Insurance Corporation of India (LIC) which saw people leaving the fold. This time around, the private sector is facing the heat.
Reliance Life Insurance Company, which took on a number of top LIC officials, asked them to opt for an internal transfer and join Reliance General Insurance Company. Reliance spokesperson declined to comment.
Ex-LIC officials D Ray, E C J Augustine and P K Verma opted for the transfer. Saji George who was looking after servicing operations at LIC left Reliance six months back and has opted to take on a new assignment with Tata AIG Life. M S Sidhu (former LIC senior divisional manager, Ludhiana) resigned recently, but is on the payroll of Reliance as per the company
