Shares of New India Assurance Company Ltd (NIACL) surged 5 percent following the announcement of Girija Subramanian as the new Chairperson cum Managing Director (CMD). Subramanian’s appointment took effect on June 19, and she will serve as CMD until her superannuation or until further orders.
Girija Subramanian holds a bachelor’s degree in Statistics and is a Fellow member of the Insurance Institute of India, as well as an Associate member of the Chartered Insurance Institute, London. She began her career as a Direct Recruit Officer at General Insurance Corporation of India (GIC Re) in 1988.
“In her 34-year career, she has worked in reinsurance departments across various lines of business, including Aviation, Life, Health, and Property,” NIACL stated in its regulatory filing. Prior to her current role, she was the CMD of AIC of India.
At 10:28 am, New India Assurance shares were trading 4.2 percent higher at Rs 248 apiece on the National Stock Exchange (NSE). Over the past year, the stock has more than doubled, rising over 100 percent, compared to a 25 percent increase in the Nifty.
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