New Delhi: Revenue secretary C S Rao has been appointed as the next chairman of the Insurance Regulatory and Development Authority (IRDA).

Rao will take over from the present chairman, N Rangachary, on 10 June 2003. Rangachary's seven-year stint at IRDA comes to an end on 9 June.

Rao, who was due to retire from service on 31 May 2003, will hold office at IRDA for a five-year stint till the attainment of 65 years of age.