 "FSIB recommends Ramakrishnan Chander as LIC's next managing director")
The Financial Services Institutions Bureau (FSIB) on Tuesday recommended Ramakrishnan Chander as Managing Director (MD) of state-owned Life Insurance Corporation of India (LIC).
The final decision on the FSIB recommendation will be taken by the Appointments Committee of the Cabinet. Chander was appointed Chief Investment Officer (CIO) in June 2025.
“Financial Services Institutions Bureau interfaced with five candidates from Life Insurance Corporation of India (LIC) on September 30, 2025, for the position of Managing Director (MD). Keeping in view their performance in the interface, their overall experience and the extant parameters, the Bureau recommends Shri R Chander for the position of MD in LIC,” FSIB said.
LIC’s top management comprises four MDs, apart from the MD and CEO. Currently, R Doraiswamy is the MD and CEO of the corporation. Dinesh Pant, Ratnakar Patnaik, and Sat Pal Bhanoo are the other MDs.
Chander joined LIC in 1990 as an Assistant Administrative Officer. He holds a Post Graduate Diploma in Financial Management and is a Fellow of the Insurance Institute of India. He has worked as Senior Divisional Manager of the Nagpur and Hyderabad divisions, Regional Manager (Marketing) for the South Zone, and Regional Manager (Pension and Group Schemes) for the South Central Zone. Earlier, he led LIC’s Strategic Business Unit – International Operations as Executive Director. He is currently heading Investment – Front Office of the corporation.