Govt appoints Siddhartha Mohanty as interim chairman of LIC: Report

Government appointed Siddhartha Mohanty, the managing director and chief executive officer of LIC Housing Finance, as the MD of Life Insurance Corporation for three months, according to media report

The Centre has appointed Siddhartha Mohanty as the interim chairman of Life Insurance Corporation of India (LIC) for a period of three months starting March 14, according to CNBC.

Mohanty is presently a managing director and chief executive officer of LIC Housing Finance, as the MD of Life Insurance Corporation (LIC), effective February 1st, 2021. Siddhartha Mohanty was nominated to serve as the MD of LIC until his superannuation on June 30, 2023.

Currently, Bishnu Charan Patnaik, Ipe Mini, Siddhartha Mohanty, and Raj Kumar are the MDs of LIC and Shri. Mangalam Ramasubramanian Kumar is the chairman of the company.

LIC is the fifth-largest life insurer in the world by life insurance gross written premiums (GWP) and by total assets, it is the tenth-largest. With 1,335,000 agents and ₹27.80 crore in policies being serviced, the LIC is the third-strongest insurance brand globally.