R Doraiswamy Appointed as New Chief of Life Insurance Corporation

The government has selected R Doraiswamy to lead the state-owned Life Insurance Corporation of India (LIC), as announced on Monday. The Department of Financial Services confirmed this decision after the Appointments Committee of the Cabinet, led by the Prime Minister, gave its approval.

Doraiswamy will serve as Managing Director and CEO of LIC for three years, with his term concluding on August 28, 2028, when he reaches 62 years. The Financial Services Institutions Bureau had recommended him for the position on June 11.

Following the end of Siddhartha Mohanty's term on June 7, the government appointed Sat Pal Bhanoo as interim MD & CEO until September 7, 2025. Doraiswamy will join an executive team composed of four managing directors along with the CEO and MD.

(With inputs from agencies.)