The Appointments Committee of the Cabinet (ACC) has approved the elevation of two senior officials to the position of Managing Director (MD) at Life Insurance Corporation (LIC) of India. The appointments were made on the recommendation of the Department of Financial Services.
Dinesh Pant, currently serving as Appointed Actuary and Executive Director (Actuarial) at LIC’s Central Office in Mumbai, will take charge as MD from June 1, 2025, until his superannuation on May 31, 2027, or until further orders, whichever is earlier.
Similarly, Ratnakar Patnaik, who holds the position of Executive Director (Investment – Front Office & Chief Investment Officer), has been appointed as MD with effect from June 1, 2025, until his superannuation on March 31, 2028, or until further orders.
These appointments come at a critical time for LIC, as the insurance giant continues to strengthen its leadership and adapt to evolving market dynamics following its public listing.
About LIC
LIC, is not only India’s largest life insurer but also the country’s biggest institutional investor. As of March 2024, LIC manages assets worth ₹52.52 trillion (US$620 billion). Headquartered in Mumbai, LIC operates under the ownership of the Government of India and the administrative control of the Ministry of Finance.
