New Delhi: The central government has approved the appointment of Ratnakar Patnaik and Dinesh Pant as Managing Directors of Life Insurance Corporation of India (LIC), effective on or after 1 June 2025, following the upcoming retirement of two current MDs.
Jagannath Mukkavilli and Tablesh Pandey, the two incumbent LIC MDs, appointed in 2023, will retire at the end of their terms, paving the way for Pant and Patnaik to assume the roles.
“Pant will serve as MD till May 31, 2027 i.e., his superannuation or until further orders, whichever is earlier. Currently, he works in LIC as the appointed Actuary & Executive Director (Actuarial) and Key Managerial Personnel,” the Corporation said in a regulatory filing.
Patnaik will remain MD until 31 March 2028, which is his superannuation date, or until additional directives are issued, whichever comes first. He is currently the Chief Investment Officer, Executive Director (Investment – Front Office), and Key Managerial Personnel at the Central Office (LIC), located in Mumbai.
LIC MDs Pandey and Mukkavilli are set to retire at the end of this month. LIC’s top leadership includes four Managing Directors alongside the CEO and MD.
