Mr. Siddhartha Mohanty has officially completed his tenure as the Chief Executive Officer and Managing Director of the Life Insurance Corporation (LIC) of India with effect from June 7, 2025. A veteran of the insurance industry, Mr. Mohanty leaves behind a legacy of leadership and institutional strengthening during his long-standing service with India’s largest insurer.
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Mr. Mohanty had taken charge as the Chairperson of LIC in April 2023 after serving as the Managing Director. A direct recruit officer of the 1985 batch, he brought with him over three and a half decades of experience across diverse functions of LIC including marketing, human resources, legal affairs, and investments.
An academic achiever, Mr. Mohanty holds a Master’s degree in Political Science, a Bachelor’s degree in Law, and a Post Graduate Certification in Business Management. His career trajectory within LIC is marked by several key leadership roles, including serving as Sr. Divisional Manager, Regional Marketing Manager, Chief of Investment Monitoring & Accounting, Executive Director (Legal), and CEO of LIC Housing Finance Ltd—one of India’s leading housing finance companies.
In addition to his executive roles, Mr. Mohanty chaired the boards of LIC’s various domestic subsidiaries and associate companies, such as LIC Housing Finance Ltd, LIC Mutual Fund AMC, LIC Pension Fund Ltd, and LIC Cards Services Ltd. He also held leadership positions in LIC’s international ventures, including LIC (International) B.S.C.(c) Bahrain, LIC Lanka Ltd, LIC Nepal Ltd, and LIC Singapore Pte. Ltd.
Mr. Mohanty’s tenure as Chairperson is noted for driving operational efficiency, strengthening global partnerships, and expanding LIC’s market footprint, both domestically and abroad. As he steps down, LIC is expected to announce his successor shortly.
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.
