Government appointed Siddhartha Mohanty as the Chairman of the Life Insurance Corporation of India (LIC) today. Mohanty will serve as the head of the organization until June 2024.
After that, he continues as the company's managing director until June 7, 2025, or until he reaches the age of 62, whichever comes first, or until further notice. In June 2025, Mohanty will reach superannuation.
Siddhartha Mohanty was one of the candidates shortlisted by the Financial Services Institutions Bureau (FSIB) in March to serve as Chairman of the Life Insurance Corporation. According to the regulations, the chairman is chosen from among the company's four managing directors, and the government makes the final decision following the FSIB's recommendation.
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