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After a long wait, the Insurance Regulatory and Development Authority of India (IRDAI) has got a member-actuary. IRDAI today said that Pournima Gupte has taken charge as Whole-time Member (Actuary) of the Insurance Regulatory and Development Authority of India today.
Prior to this, Gupte was the chief actuary at IDBI Federal Life Insurance. She has been appointed for a period of five years or till she attains the age of 62 years or till further orders, whichever was the earliest.
The position of Member Actuary at Insurance Regulatory and Development Authority (Irda), has been lying vacant for more than three years. R Kannan, Former Member-Actuary at Irda retired in early 2011 and the position is vacant since then.
This member looks into product approvals, features in the products including surrender charges, returns apart from interacting with appointed actuaries of insurance companies on actuarial issues.
