Siddhartha Mohanty, chief executive officer and managing director, Life Insurance Corporation
The Ministry of Finance will appoint a non-executive chairman afterwards. Besides Mohanty, there are currently four other MDs in LIC
Mumbai: On the basis of earlier amendments in the LIC Act, Life Insurance Corporation of India (LIC) on Sunday has re-designated chairman Siddhartha Mohanty as the first chief executive officer and managing director of the corporation.
The Ministry of Finance will appoint a non-executive chairman for the corporation afterwards.
“Siddhartha Mohanty, the incumbent chairperson of the Life Insurance Corporation of India shall be the chief executive officer and managing director of the corporation effective from June 30, 2024,” LIC said in a notification on the exchanges on June 30..
Besides Mohanty, there are currently four other MDs in the corporation.
Mohanty, who was MD of the corporation earlier, was elevated to the post of chairman in Apr 23.
Mohanty had joined LIC in 1985 and has tenure up to July 2025.