Mr. Sujay Banarji assumed charge as Member (Distribution) in Insurance Regulatory and Development Authority of India on 1st March 2018.
Mr. Sujay Banarji superannuated as General Manager and Director of the Oriental Insurance Company Limited in January 2018. He was for a time officiating CMD of Oriental Insurance Company Limited from July 2016 to May 2017.
Mr. Banarji started his career in the Insurance Industry in 1982 as a Direct Recruit Officer (Generalist) in The New India Assurance Company Limited. His initial posting was in Chandigarh where he served for nine years and was also the Branch Head of Mohali and Chandigarh Branches. In 1992 he was posted to the Chairman’s Office in Mumbai.
Whilst in Mumbai, Mr. Banarji headed a Division and in 2001 he was made Head of the Reinsurance Department (Underwriting), when soon thereafter 9/11 events took place in the USA.
Mr. Banarji also served in New India’s overseas Office in Sydney, Australia. He was responsible for writing reinsurance business in Australia, New Zealand and South Pacific Island nations. On his elevation as General Manager in August 2010, he moved to GIC Re. In GIC Re he was responsible for both Inward Business (Property, Miscellaneous Classes, Marine, Aviation, etc.) and Protection.
In May 2013 Mr. Banarji joined Oriental Insurance Company Limited and in 2014 he was appointed as a Director of the Company. During his service in Oriental, he held various portfolios from Reinsurance, Health, Marine, Aviation and Miscellaneous Classes of Business and also for a brief period HR and Administration.
He enjoys watching sports, light reading and keeping abreast of current affairs.
