Dr M Aslam Alam has resigned from his position as Chairman of the Insurance Development and Regulatory Authority (IDRA), the regulatory body of the country’s insurance sector.
He submitted his resignation letter to the Financial Institutions Division on Monday (March 2), citing unavoidable personal reasons.
Dr Alam, a former Senior Secretary to the government, joined IDRA as Chairman on September 9, 2024. He was appointed for a three-year term from the date of joining. According to his appointment terms, his tenure was scheduled to end on September 8, 2027.
IDRA sources said that Dr Alam had informally announced his intention to step down nearly two weeks earlier during a meeting, referring to personal reasons. He has now formally submitted his resignation letter to the authorities concerned.
