NEW DELHI: Former chairman of Life Insurance Corporation, TS Vijayan on Thursday took over as the chairman of the Insurance Regulatory and Development Authority (Irda). He succeeds J Hari Narayan who completed his five-year term on Wednesday. ET had reported on January 9 that the government has selected TS Vijayan as the next Irda chief. The regulator in a statement said that TS Vijayan has taken over the charge as chairman from Thursday. Vijayan's appointment as the Irda chief is a sort of redemption as he was unceremoniously demoted to a managing director in LIC in May 2011 following allegations of financial irregularity during his tenure. An internal panel of the finance ministry had found irregularities in investments made by LIC. CBI Investigations did not confirm any of the charges.
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