Indian Bureaucracy News, New Delhi, December 11, 2025 | The Union Ministry of Finance has appointed Ms Swagat Ranveerchand Bhandari IAS (Kerala 2010), presently on Central Deputation and posted as Director in the Department of Financial Services (DFS), as the Government Nominee Director on the Board of Oriental Insurance Company Limited (OICL). The appointment takes effect immediately and will remain in force until further orders, according to an official communication issued on Wednesday (dt 03.12.2025).
The nomination has been made under Article 105 of the Articles of Association of Oriental Insurance Company Limited, which empowers the Central Government to appoint its representative to the insurer’s board. Ms Bhandari replaces Shri Sudhir Shyam as the Government Nominee Director.
Oriental Insurance, one of India’s four public-sector general insurers, is currently undergoing capital restructuring and operational reforms as part of broader financial sector consolidation efforts. The induction of a senior DFS official on its board comes at a time when the Centre is closely monitoring performance indicators in state-owned insurers, including solvency margins, digital transformation, and underwriting discipline.
Oriental Insurance Company Limited (OICL) achieved a financial recovery in the fiscal year 2024-25, reversing losses from prior years. The company reported a gross premium of ₹20,327 crores, an increase of 8.16% from the previous fiscal year, leading to a net premium of ₹17,274 crores. More details are available at orientalinsurance.org.in.
IndianBureaucracy.com wishes Smt Swagat Ranveerchand Bhandari the very best.