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Centre has appointed R Doraiswamy, Executive Director, Life Insurance Corporation of India (LIC) as Managing Director of the insurance behemoth.
Doraiswamy will replace Ipe Mini, who is currently an MD of LIC and is due to superannuate at the end of this month.
Doraiswamy has been appointed from the date of assumption of charge of office on or after September 1, 2023 and upto the date of his superannuation (August 31, 2026) or until further orders, whichever is earlier, according to the government order.
Currently, LIC has four Managing Directors — Mini Ipe, M Jagannath, Tablesh Pandey, and Sat Pal Bhanoo. The Centre had appointed Bhanoo as MD of LIC last month.
It may be recalled that the Financial Services Institutions Bureau (FSIB), the headhunter for directors of state-owned banks and financial institutions, had in June this year recommended the name of Doraiswamy as Managing Director of LIC.
- Also read: LIC launches close-ended ‘Dhan Vridhhi’ plan
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