Ajay Seth, former Finance Secretary and Secretary of the Department of Economic Affairs (DEA), has been appointed the new Chairperson of the Insurance Regulatory and Development Authority of India (IRDAI) for a term of three years, or until he attains the age of 65, whichever is earlier. The Appointments Committee of the Cabinet approved the decision on July 23, formally concluding the regulator’s leadership vacuum that had persisted since mid-March.
The top post at IRDAI had been vacant since March 14, 2025, following the end of the term of former Chairperson Debasish Panda.
A 1987-batch Indian Administrative Service (IAS) officer of the Karnataka cadre, Seth retired on June 30 this year after completing a distinguished 38-year-long career. His tenure at the Ministry of Finance, particularly as Economic Affairs Secretary from April 2021 to June 2025 positioned him as one of the key architects of India’s fiscal revival post the pandemic.
