Public sector general insurers have promoted their 21 young officials to the posts of General Manager. General Manager is an important post in a Public Sector General Insurance Company and future CMD of the industry will be selected from among these newly elevated officials. In this space GMs are 2nd in ranking and equivalent to Executive Directors at state run banks.
The largest player New India Assurance has elevated seven of its deputy GMs, while United India and Oriental Insurance promoted five each. It was followed by National Insurance and GIC Re, which promoted two each.
In the latest promotional exercise, many officials at GIC Re, New India Assurance, United India Insurance, National Insurance Company, Oriental Insurance, with long years of residual service, have been promoted as General Managers.
