New Delhi: State-owned insurance major Life Insurance Corporation of India (LIC) has appointed Mr. Jayasimhan Madabhushi Matam Tirumala as its new Chief Compliance Officer (CCO) and Key Managerial Personnel (KMP). The appointment is subject to approval from the Insurance Regulatory and Development Authority of India (IRDAI) and will be effective from June 24, 2026.
The decision was approved by the LIC Board of Directors during its meeting held on the same day, based on the recommendation of the Nomination and Remuneration Committee.
Board Approval and Key Appointment Details
The appointment of Mr. Tirumala was formally cleared at a Board meeting held on June 24, 2026, at LIC’s Central Office. The meeting began at 11:45 AM and concluded at 2:50 PM.
Following the approval, he has been redesignated as:
- Executive Director (Board & Secretarial/Regulatory Compliance)
- Chief Compliance Officer (CCO) of LIC
His tenure will continue until superannuation or until further orders, whichever is earlier.
Role Subject to IRDAI Approval
LIC clarified that the appointment is currently subject to regulatory approval from the Insurance Regulatory and Development Authority of India (IRDAI). Once approved, Mr. Tirumala will formally assume full responsibilities as CCO.
The appointment has also been communicated to stock exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Profile of the Newly Appointed CCO
Mr. Jayasimhan Madabhushi Matam Tirumala joined LIC in 1992 as an Assistant Administrative Officer. Over his three-decade-long career, he has held several key positions across the organisation.
His educational qualifications include:
- Bachelor of Science degree from S.V. University, Tirupati
- Post Graduate Diploma in Industrial Relations & Personnel Management
- Fellow of the Insurance Institute of India
He has extensive experience in operations, marketing, administration, and regulatory functions within LIC.
Extensive Leadership Experience Across LIC
During his tenure, Mr. Tirumala has served in several senior roles, including:
- Senior Divisional Manager, Machilipatnam and Shimoga divisions
- Secretary (Marketing), South Central Zone
- Secretary (Pension & Group Schemes), South Central Zone
- Regional Manager (Marketing – Chief Life Insurance Advisor), Karnataka
- Executive Director (Board & Secretarial/Regulatory Compliance)
He has also worked across branch-level leadership roles and contributed to strengthening LIC’s agency distribution network and governance systems.
Strengthening LIC’s Compliance and Governance Framework
The appointment comes as LIC continues to enhance its corporate governance and regulatory compliance structure in line with evolving insurance sector requirements in India.
As Chief Compliance Officer, Mr. Tirumala will be responsible for:
- Ensuring regulatory compliance
- Strengthening internal governance systems
- Enhancing risk and compliance oversight
- Supporting transparency in operations
Key Step in LIC Governance Structure
The appointment of a senior and experienced executive as Chief Compliance Officer reflects LIC’s continued focus on strengthening regulatory discipline and corporate governance in a rapidly evolving financial environment.
About LIC
Life Insurance Corporation of India (Life Insurance Corporation of India) is India’s largest state-owned life insurance company. Established in 1956, it plays a major role in the country’s insurance sector by offering life insurance products, pension schemes, and investment-linked financial services, while maintaining a strong presence across urban and rural India.
Read also: LIC Extends CFO Sunil Agarwal’s Tenure Until March 2027 to Ensure Financial Continuity
