The New India Assurance Company Limited has announced the promotion of Ms. Lavanya Mundayur to the position of Chairman and Managing Director (CMD) of the Agriculture Insurance Company of India Ltd. Prior to her elevation, Ms. Mundayur served as the General Manager (GM) at The New India Assurance Company Limited. According to a regulatory filing, Ms. Mundayur ceased to hold the position of General Manager effective December 19, 2024, following her appointment as CMD of Agriculture Insurance Company of India Ltd.
Ms. Mundayur’s appointment as CMD is effective from the date she assumes the role, with a pay scale of ₹2,05,400-2,24,400 per month. She will serve in this position until her retirement on May 31, 2029, or until further notice, whichever occurs earlier. This promotion marks a significant career milestone for Ms. Mundayur, who has been a key figure in the insurance industry. As CMD of Agriculture Insurance Company of India Ltd, she will be responsible for leading the company’s strategic direction and driving its growth and development.
The appointment of Ms. Mundayur as CMD is a testament to her skills and experience in the insurance industry. As a seasoned professional, she has demonstrated her ability to lead and manage teams, and has a deep understanding of the insurance sector. Her promotion is likely to have a positive impact on the Agriculture Insurance Company of India Ltd, and she is well-positioned to drive the company’s success in the years to come.