The central government on Monday (July 14, 2025) appointed R Doraiswamy as Chief Executive Officer and Managing Director (CEO & MD) of Life Insurance Corporation of India (LIC). According to an order issued by the Ministry of Finance, he will serve for a period of three years from the date of assuming charge, or until he attains the age of 62 years (i.e. August 28, 2028), or until further orders — whichever is earlier.
R Doraiswamy is currently serving as Managing Director at LIC, a role he has held since September 2023. With this elevation, he succeeds Siddhartha Mohanty, whose term ended on June 7, 2025. Following Mohanty’s exit, LIC MD Sat Pal Bhanoo had been functioning as interim CEO.
The appointment follows the June 11 recommendation of the Financial Services Institutions Bureau (FSIB), which interviewed four LIC executives for the top post — R Doraiswamy, Sat Pal Bhanoo, Dinesh Pant, and Ratnakar Patnaik.
The top management structure of LIC includes a CEO & MD and four Managing Directors. Currently, the MDs are Sat Pal Bhanoo, M Jagannath, and Tablesh Pandey.
Also Read: FSIB recommends R Doraiswamy as LIC CEO & MD
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