Former LIC Chairman Shri T.S. Vijayan on Thursday took over as the Chairman of the Insurance Regulatory and Development Authority (IRDA). Shri Vijayan succeeds Shri J. Hari Narayan who completed his five year term. IRDA Chairperson's tenure is for five years or till the age of 65 years. He is the first non-IAS officer appointed to this coveted post. An IRDA statement said Shri Vijayan has taken charge as its Chairman on Thursday.