The government on Thursday has cleared the appointments of Raj Kumar, executive director, Life Insurance Corporation and Mukesh G Gupta, ED, LIC as the managing directors of the corporation.
The appointment committee of the Cabinet (ACC) has approved the proposal of Department of Financial Services for Kumar and Gupta as MDs of LIC ,’’ said a communication from Ministry of Finance.
Gupta will be retiring on Sept 30, 2021 while Raj Kumar will be calling it a day on 31 Jan , 2022.
The Bureau of Banking Board(BBB), an exclusive body to choose the CEOs of public sector banks and insurance companies, on Aug 27,. had conducted the interviews of senior officialsof the LIC and the public sector general insurance industry,for selecting CMDs of GIC Re , Agriculture Insurance Company(AIC) and two MDs of LIC and had selected Raj Kumar and Gupta as the MDs of LIC and Devesh Srivastav and Malay Podday as the CMD of GIC Re and AIC respectively.
“The appointments of Srivastav and Poddar will be notified soon,’’ said MoF sources.
With the appointment of Raj Kumar and Gupta,,the government has filled up all the posts – four- of MDs at LIC, LIC already has two Managing Directors Shri T C Susheel Kumar & Shri Vipin Anand.
Prior to taking over this charge, Gupta was ED (Personnel) and earlier to that he was Zonal Manager(I/C), Central Zone, Bhopal.
Kumar has varied experience and served the corporation in important positions such as ED(International Operations), CEO , LIC Mutual Fund Asset Management Ltd, Zonal Manager (I/C), Central Zone, Bhopal, ED(HRD-OD),