Mumbai: Life Insurance Corporation of India (LIC) has appointed Pankaj Kumar Saxena as Executive Director (Alternate Channel) at its Central Office, designating him as a Senior Management Personnel (SMP) under SEBI’s Listing Obligations and Disclosure Requirements (LODR).
The appointment has been formally disclosed to the BSE and National Stock Exchange in compliance with regulatory norms.
Appointment Details and Role Transition
- Name: Pankaj Kumar Saxena
- New Role: Executive Director (Alternate Channel)
- Effective Date: April 10, 2026
- Designation: Senior Management Personnel (SMP)
Prior to this role, Saxena served as Managing Director & CEO of LIC Pension Fund Limited, a wholly owned subsidiary of LIC.
Over 35 Years of Industry Experience
Pankaj Kumar Saxena brings more than 35 years of experience in insurance, administration, and marketing.
He began his career with LIC in 1990 as an Assistant Administrative Officer and has since held several key leadership roles across regions, including:
- North Central Zone
- Northern Zone
- Central Zone
His major assignments include:
- Senior Divisional Manager, Allahabad and Dehradun
- Regional Manager (Marketing), North Central Zone, Kanpur
- Leadership roles in sales and marketing functions
He also has nearly 27 years of experience in marketing leadership, making him well-suited for his new role.
Strong Academic Credentials
Saxena holds:
- Postgraduate degree in Mathematics
- Post Graduate Diploma in Marketing Management
His academic and professional background supports his expertise in managing alternate distribution channels and strategic growth initiatives.
Focus on Alternate Channel Growth
As Executive Director (Alternate Channel), Saxena is expected to:
- Strengthen LIC’s alternative distribution channels
- Enhance customer outreach and engagement
- Drive growth through innovative insurance delivery models
- Support digital and non-traditional sales platforms
His appointment aligns with LIC’s strategy to diversify its distribution network and expand market reach.
Regulatory Compliance and Transparency
The appointment has been made in accordance with SEBI LODR regulations and will also be available on LIC’s official website for investors and stakeholders, ensuring transparency and compliance.
About LIC
Life Insurance Corporation of India (LIC), a state-owned public sector undertaking, is the largest life insurer in the country. Established under the Life Insurance Corporation Act of 1956, LIC provides life insurance coverage, pension plans, and investment management services to millions of policyholders across India. The corporation has been instrumental in mobilizing savings, supporting social welfare initiatives, and contributing to the growth of the Indian economy through responsible financial management and strategic investments.
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