The appointments were approved by LIC’s Board of Directors at its meeting held on Tuesday on the recommendation of the Nomination & Remuneration Committee
New Delhi: Life Insurance Corporation of India (LIC) has appointed Shatmanyu Shrivastava as its chief financial officer (CFO) and Varadarajan Muthuvenkataraman as chief risk officer (CRO), strengthening the leadership overseeing the insurer’s financial and risk management functions. TrendingVideos
The appointments were approved by LIC’s Board of Directors at its meeting held on Tuesday on the recommendation of the Nomination & Remuneration Committee, the company said in a press release. Both executives have been appointed as Key Managerial Personnel (KMPs), with their tenure continuing until superannuation or until further orders, whichever is earlier.
Shrivastava, who was serving as Executive Director (Finance & Accounts), has been appointed as CFO with effect from July 28.
He joined LIC in 1990 as an Assistant Administrative Officer and is a Fellow Member of the Institute of Chartered Accountants of India. He is also a Fellow of the Insurance Institute of India and has passed seven papers of the actuarial examination conducted by the Institute of Actuaries of India.
He has also handled various regulatory compliances under the Securities and Exchange Board of India’s Listing Obligations and Disclosure Requirements (LODR) Regulations and Insurance Regulatory and Development Authority of India (IRDAI) regulations. Before becoming CFO, Shrivastava was serving as Executive Director (Enterprise Risk Management) and Chief Risk Officer.