Mumbai: Government of India has assigned Siddhartha Mohanty as the Chairman of Life Insurance Corp of India until June next year and will also hold the position of Chief Executive for at least a year after that.
Mohanty is one among the four Managing Directors of LIC. He was already named as chairman in March for three months.
FSIB, an autonomous body tasked with selecting top managers of state-run financial institutions and lenders, had recommended the candidature of Siddhartha Mohanty, one of the four Managing Directors at Life Insurance Corp (LIC), as the next Chairman of the insurer that is India’s biggest institutional investor.
After evaluating the candidates for the top position of the organization, the Financial Services Institutions Bureau (FSIB) recommendation came.
Mohanty was appointed as Managing Director in February 2021. He began his career at LIC as a direct recruit officer in 1985, and gained experience in various departments — marketing, HR, investments, legal, and personnel. Before taking over as MD of LIC, he was MD and CEO of LIC Housing Finance.
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