The former MD of LIC, Mr BC Patnaik, was appointed as a lifetime member of the Insurance Regulatory and Development Authority of India (IRDAI) by the government.
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The Appointments Committee of the Cabinet has approved the appointment of Mr. Patnaik, to the post of Whole-Time Member (Life), Insurance Regulatory and Development Authority of India (IRDAI) from the date of assumption of the charge of the post till he attains the age of 62 years, or until further orders, whichever is earlier.
Patnaik was elevated to the rank of managing director of LIC of India on October 1, 2021. Prior to taking charge as MD, he was secretary general at Council for Insurance Ombudsmen (CIO), Mumbai.
