Lavanya R Mundayur appointed Chairman cum Managing Director, assumes charge

Ms. Lavanya R Mundayur has been appointed Chairman cum Managing Director (CMD) by the Ministry of Finance, and assumed charge from 30th September 2026, up to her superannuation on 31.05.2029.

Wed 30 Sep 2026

New CMD Appointment

Ms. Lavanya R Mundayur appointed Chairman cum Managing Director

Assumption Date

30th September 2026

Tenure End Date

31.05.2029 (superannuation)

Pay Scale Approved

Rs. 2,05,400 - 2,24,400/-

Previous Position

Chairman cum Managing Director of Agriculture Insurance Company of India Ltd

What happened

The Ministry of Finance, Department of Financial Services, notified the appointment of Ms. Lavanya R Mundayur as Chairman cum Managing Director (CMD) of the company. She assumed charge with effect from 30th September 2026.

• Tenure: from date of assumption of charge till her superannuation on 31.05.2029, or until further orders, whichever is earlier.
• Scale of pay approved: Rs. 2,05,400 - 2,24,400/-.
• The approval was conveyed under article 121 of the Articles of Association of the company.

Outgoing arrangement

Mr. S Sivasankar, who had been assigned additional charge of the CMD position (intimated to the exchanges on 11th September 2026), ceases to hold that charge from 30th September 2026, following the appointment of a regular CMD.

Background of the new CMD

• Currently Chairman cum Managing Director of Agriculture Insurance Company of India Ltd. (AICIL).
• Over three decades of experience in insurance in India and international markets.
• Earlier General Manager-Technical and Chief Underwriting Officer at New India Assurance, leading Property, Marine and Aviation underwriting and claims.
• First female CEO to head New India's GCC operation; board/committee member of IBG and GIMIC while at the Dubai office.
• Received an Honorary Industrial Doctorate from AIMRI, UAE in 2023.
• Postgraduate in Analytical Chemistry, Fellow of the Insurance Institute of India, and Certified Reinsurance Specialist from Singapore College of Insurance.

Why it matters

The company now has a regular, full-time CMD in place instead of an officer holding additional charge, giving leadership continuity for roughly the next two and a half years.

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