Centre appoints LIC CFO Ramakrishnan Chander as managing director

The Centre has appointed LIC's executive director and chief financial officer Ramakrishnan Chander as managing director from December 1, with his tenure running till September 2027

The central government has appointed Ramakrishnan Chander, who was serving as executive director and chief financial officer of state-owned Life Insurance Corporation (LIC), as managing director with effect from December 1. His tenure will run until his superannuation on September 30, 2027, the insurer said in an exchange notification.

 

How is LIC’s top management structured?

 

LIC has four managing directors (MDs), in addition to its Managing Director & Chief Executive Officer (CEO), R Doraiswamy. The other three MDs are Sat Pal Bhanoo, Ratnakar Patnaik, and Dinesh Pant. Bhanoo’s tenure is expected to end in January 2026.

 

Who is Ramakrishnan Chander and what has been his career path?

 

Chander joined LIC in 1990 as an assistant administrative officer. He is a graduate and a Fellow of the Insurance Institute of India.

 

What is the significance of opening an MD position to private sector candidates?

 

Recently, the government decided to open up one MD position in the corporation to candidates from the private sector — a move similar to that undertaken at State Bank of India (SBI) — which experts view as a positive step.