Mumbai: Life Insurance Corporation of India (LIC) has announced the extension of the tenure of its Chief Financial Officer (CFO), Mr. Sunil Agarwal, for a further period of one year. His extended term will now continue until March 1, 2027.
The decision was disclosed through a regulatory filing submitted to BSE Limited and the National Stock Exchange of India Limited under applicable listing regulations.
Board Approves One-Year Extension
The Corporation confirmed that the extension has been formally approved, ensuring continuity in its financial leadership. The move reflects confidence in Mr. Sunil Agarwal’s stewardship of LIC’s financial operations and strategic planning.
The official communication was signed by Anshul Kumar Singh, Company Secretary & Compliance Officer, and has also been made available on LIC’s official website.
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Ensuring Stability in Financial Leadership
The extension comes at a time when LIC continues to strengthen its market position and operational framework. Retaining experienced leadership at the financial helm is seen as a strategic step to maintain governance stability, regulatory compliance, and long-term growth planning.
As CFO, Mr. Sunil Agarwal plays a crucial role in overseeing financial management, capital planning, reporting standards, and investor relations for the insurance giant.
Regulatory Compliance and Disclosure
LIC’s announcement was made in compliance with listing regulations applicable to publicly traded entities. The disclosure was submitted to both BSE and NSE, ensuring transparency for investors and stakeholders.
About Life Insurance Corporation of India (LIC)
The Life Insurance Corporation of India (LIC) is a statutory corporation established under the LIC Act of 1956. It is India’s largest insurance company and the largest institutional investor. LIC’s primary goal is to provide life insurance and financial security to individuals, with a focus on spreading insurance widely, especially in rural areas.
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