Mumbai, July 16, 2025 — The Life Insurance Corporation of India (LIC) has appointed R Doraiswamy as its new CEO and Managing Director, effective July 14. His appointment follows the interim tenure of Sat Pal Bhanoo, who assumed charge after Siddhartha Mohanty’s term ended on June 7.
Doraiswamy becomes the first full-term CEO & MD under LIC’s revised governance structure, introduced after its 2022 IPO. The change aligns LIC with SEBI’s norms for listed entities, merging the roles of Chairman and MD for tighter corporate oversight.
With over 38 years of experience at LIC, Doraiswamy brings deep operational and strategic expertise across domains including marketing, technology, and zonal leadership. He previously served as Executive Director of IT & Software Development and also headed LIC’s Southern Zonal Office in Chennai.
His term is set for three years or until the age of 62, whichever is earlier. The Financial Services Institutions Bureau (FSIB) recommended his name in June, which was later approved by the Appointments Committee of the Cabinet.
The leadership change comes at a critical time. Post-IPO, LIC has faced scrutiny over digital modernization, private-sector competition, and capital efficiency. Doraiswamy is expected to focus on strengthening LIC’s tech stack, optimizing policyholder services, and ensuring alignment with market-facing goals.
This appointment signals a continuity of experience—and a fresh start—for India’s largest insurer as it adapts to the demands of a modern, publicly traded enterprise.
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