LIC appoints R Doraiswamy as new MD & CEO

15 Jul 2025 , 10:45 AM

The business said that R Doraiswamy has officially been appointed as the new Chief Executive Officer (CEO) and Managing Director (MD) of Life Insurance Corporation of India (LIC). This marks a significant leadership change at India’s largest life insurer.

The company said that it received approval from the Department of Financial Services for his appointment after securing a nod from the Appointments Committee of the Cabinet, headed by the Prime Minister.

Doraiswamy’s tenure is effective for three years from the date of joining office, or until he turns 62 on August 28, 2028, or until receiving further orders, whichever is earlier.

Previously, Doraiswamy served as a Managing Director at LIC. He is a Mathematics graduate from Madurai Kamaraj University and a Fellow of the Insurance Institute of India. 

In June, the Financial Services Institutions Bureau (FSIB) recommended his name for the role. The company’s previous CEO Siddhartha Mohanty’s term ended on June 7.

Since June 8, Sat Pal Bhanoo has been holding the interim charge. LIC also confirmed that Bhanoo ceased to hold CEO-level powers after the appointment of Doraiswamy.

Currently, LIC has four Managing Directors and one CEO who heads the company.

Life Insurance Corporation posted a 38% year-on-year growth in its Q4FY25 consolidated net profit at ₹19,039 Crore. In the previous corresponding period, the business posted a net profit of ₹13,782 Crore.

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