THEBUSINESSBYTES
BUREAU
NEW
DELHI, SEPTEMBER 30, 2026
The central
government has approved the appointment of Lavanya R Mundayur as Chairman and
Managing Director (CMD) of New India Assurance Company Ltd, marking a key
leadership change at one of the country’s major public sector general insurers.
Mundayur, who is
currently serving as CMD of Agriculture Insurance Company of India Ltd (AICIL),
will take charge of New India Assurance for a tenure extending up to May 31,
2029, according to an order issued by the Department of Financial Services
under the Ministry of Finance.
The government order said Mundayur will draw a pay scale of Rs 2,05,400-Rs 2,24,400.
Mundayur’s appointment comes as New India Assurance continues to play a significant role in India’s general insurance sector, with its operations spanning a wide range of insurance products and customer segments. Mundayur’s experience at AICIL, particularly in the agriculture insurance space, brings sectoral experience to her new role at the insurer.
