The government has appointed Life Insurance Corporation of India (LIC) Managing Director Dinesh Pant and former New India Assurance Company chairman-cum-managing director (CMD) Girija Subramanian as members of the Insurance Regulatory and Development Authority of India (IRDAI).Pant will join the insurance regulator as Member (Actuary), while Subramanian has been appointed as Whole-Time Member (Distribution). Their appointments come at a time when the insurance industry is undergoing significant changes in product design, distribution and regulatory oversight.Pant’s appointment to IRDAI follows the government’s approval of the premature termination of his tenure as Managing Director of LIC after he opted for voluntary retirement.“The Central Government hereby approves premature termination of appointment of Shri Dinesh Pant as Managing Director (MD), Life Insurance Corporation of India with effect from the date of issue of this notification on account of his retirement on voluntary basis,” the Ministry of Finance said in a notification.Pant has had a long career in the insurance industry and held several senior positions at LIC. His move to the regulator is expected to bring industry experience to IRDAI, particularly in actuarial and life insurance matters.Subramanian, meanwhile, joins IRDAI after serving as CMD of New India Assurance Company, the country’s largest public-sector general insurer. During her tenure, she oversaw the operations of the insurer across its domestic and international businesses.As Whole-Time Member (Distribution), Subramanian will oversee an area central to expanding insurance coverage, including the development of distribution channels and efforts to improve insurance penetration.Story continues below this adThe appointments were notified by the Department of Financial Services on June 15 and bring two senior insurance industry professionals with extensive public-sector insurance experience into the regulatory framework.