LIC Housing Finance Ltd has announced the appointment of Mr. T.C. Suseel Kumar as an Additional Director in the capacity of Non-Executive, Independent Director for a term of five consecutive years, starting from June 2, 2025. The appointment, based on the recommendations of the Nomination & Remuneration Committee, is subject to shareholder approval, which the company aims to secure within three months.
Mr. Suseel Kumar, who retired as Managing Director of Life Insurance Corporation of India (LIC) in January 2021, brings nearly four decades of experience in the insurance and finance sector. Throughout his career at LIC, he held several prestigious roles including Managing Director, Executive Director, and Zonal Manager. He managed key departments such as Marketing, CRM, HR, Finance, Audit, Corporate Governance, and Investments, and also led LIC’s foreign operations in Mauritius.
Known for his data-driven approach, Mr. Kumar crafted LIC’s strategic business plans aligning both short- and long-term goals, resulting in significant achievements including record-breaking First Year Premium Income and a strengthened market position. He also initiated a targeted market research campaign aimed at millennials, leading to the recruitment of over 1.1 million new agents in 2020–21—the highest in over a decade.
In addition to his service with LIC, Mr. Kumar has held board-level positions in several prominent organizations including Axis Bank Limited, Bombay Stock Exchange Limited, Lakshmi Machine Works, and National Mutual Fund (Mauritius), reflecting his extensive expertise and leadership in the financial domain.
LIC Housing Finance Limited
LIC Housing Finance Ltd is one of India’s leading housing finance companies, promoted by Life Insurance Corporation of India, offering a wide range of loan products including home loans, loans against property, and construction finance. Established in 1989, the company serves millions of customers across the country through its extensive network of branches and digital platforms.
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