On August 12, 2024, the Central Government named Deepak Sood as a Whole Time Member (Non-Life) of the Insurance Regulatory and Development Authority of India (IRDAI).
At present, Sood holds the positions of Non-Executive Director at Gimar Insurance Brokers and Independent Director at Prudent Corporate Advisory Services Limited. He will have the position of Whole Time Member until he turns 62 years old or until new directives are issued from the date of charge, whichever comes first.
He has held executive positions with Bajaj Allianz, Zurich Financial Services, United India Insurance, and Avantha Ergo. He also served as CEO of Future Generali India Insurance.
Thomas Devasia left his role as Member (Non-Life) on July 12, 2024, leaving the post empty.
The government conducted interviews with the following individuals: Deepak Sood, a consultant at Prudent Corporate Advisory Services; Balasubramanian Pulicat, general manager of Saudi Arabian Insurance Company; Sanjay Jha, general manager of Oman Insurance; Rajeshwari Singh, CMD of National Insurance Company; Randip Singh Jagpal, executive director, IRDAI; CS Radhika, executive director, GIC Re.