M Jagannath and Tablesh Pandey recommended for post of MDs at LIC

The Financial Services Institutions Bureau on 30 January recommended M Jagannath and Tablesh Pandey for the vacancies of Managing Director (MD) positions in Life Insurance Corporation (LIC).

On January 31, Raj Kumar, the seniormost MD, retired after a year’s extension. B C Patnaik’s term as MD ends on March 31. Jagannath and Pandey are likely to succeed Kumar and Patnaik, respectively.

LIC Chairman M R Kumar’s current term ends in March. Kumar, who was appointed in 2019, had received an extension this year ahead of the insurance behemoth’s initial public offering.