The government on Friday appointed Siddhartha Mohanty as the chairman of state-owned LIC for two years. He was already named as interim chairman in March for three months, from among the four managing directors at Life Insurance Corporation (LIC) of India. Mohanty attains superannuation in June 2025.
The move comes after M R Kumar’s tenure as LIC’s chairperson was completed on March 13, 2023. Kumar’s term as chairman was extended twice. First, the government had extended the term from June 30, 2021, till March 13, 2022, and then till March 13, 2023.
Mohanty joined LIC as a direct recruit officer in 1985 and has since then risen through the ranks holding various senior positions within the company. Mohanty was also the MD and CEO of LIC Housing Finance.
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