New Delhi: The Government of India has appointed R Doraiswamy as the Managing Director and Chief Executive Officer (MD & CEO) of Life Insurance Corporation of India (LIC), the country’s largest state-owned life insurer. His appointment was approved by the Appointments Committee of the Cabinet (ACC), chaired by the Prime Minister.
According to a formal notification issued by the Department of Financial Services (DFS) under the Ministry of Finance, Doraiswamy’s tenure will last until August 28, 2028, the date on which he will attain the age of 62. The tenure, spanning a three-year period, is expected to be a crucial phase for LIC as it navigates evolving regulatory landscapes and deepens its market expansion efforts.
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Recommended by FSIB
Doraiswamy’s selection follows a recommendation made by the Financial Services Institutions Bureau (FSIB) on June 11, 2025. His leadership appointment aligns with the government’s ongoing efforts to strengthen the top management of major public sector financial institutions through a structured and transparent selection process.
Leadership Transition at LIC
Doraiswamy succeeds Siddhartha Mohanty, whose term as MD & CEO concluded on June 7, 2025. In the interim, Sat Pal Bhanoo was entrusted with the role of MD & CEO from June 8 to September 7, 2025, providing temporary leadership while the formal appointment process was completed.
LIC, which operates under the administrative control of the Ministry of Finance, is governed by a leadership team comprising a Chairman or MD & CEO, and four Managing Directors. With Doraiswamy taking the helm, the corporation is expected to continue its focus on digital innovation, insurance penetration, and shareholder value enhancement post-IPO.
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About LIC
Established in 1956, Life Insurance Corporation of India (LIC) is India’s largest life insurance provider with a vast customer base, deep rural penetration, and significant presence in capital markets. The organization has undergone transformative changes in recent years, including its public listing and restructuring of leadership roles to align with contemporary corporate governance standards.
