After obtaining prior regulatory body permission, the Insurance Development and Regulatory body (IDRA) requested that all insurance businesses use the title of chief executive officer (CEO).
Furthermore, the authority prohibited anyone from being designated CEO on a current charge basis or from using the title without its consent.
These guidelines were outlined in a circular released today by the insurance regulator.
According to the circular, a managing director may be designated as the CEO and given the title “CEO (in-charge)” until IDRA authorizes the appointment of a CEO.
Additionally, the circular specifies that no official letter addressed to IDRA may be signed by any officer lower than the CEO or CEO (in-charge) status.
