Govt Of India Appoints R Doraiswamy As LIC's Managing Director

The Government of India, on Monday, named R Doraiswamy as managing director (MD) of the Life Insurance Corporation of India (LIC). Doraiswamy is currently the central office's executive director in Mumbai.

Doraiswamy will take over as managing director from the role of Ipe Mini, according to the LIC. The appointment is effective from the date of his assumption of office on or after September 1, 2023, and continues until his superannuation on August 31, 2026, or until further orders, whichever is earlier.

"Shri R Doraiswamy Executive Director, (IT/SD), Life Insurance Corporation of India, Central Office, Mumbai, has been appointed as Managing Director, LIC of India vice Ms. Ipe Mini with effect from the date of assumption of charge of Office on or after 01st September 2023 and upto the date of his superannuation (i.e.31.08.2026), or until further orders, whichever is earlier," LIC said in filing to stock exchanges.

meanwhile, the stock of LIC, on Monday, closed 0.84% lower at Rs 655.50 per share on BSE with highs and lows of Rs 661.45 and 648.10, respectively. The stock declined 0.02% in 1 week, while gained 16.62% in 3 months. It was listed on May 17, 2022.