Joined LIC in 1985 as Apprentice Officer, MD also responsible. Siddhartha Mohanty takes charge as interim chairperson of LIC | NewsBust Joined LIC in 1985 as Apprentice Officer, MD also responsible. Siddhartha Mohanty takes charge as interim chairperson of LIC | NewsBust

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Joined LIC in 1985 as Apprentice Officer, MD also responsible. Siddhartha Mohanty takes charge as interim chairperson of LIC

By Amit - March 14, 2023

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New Delhi14 minutes ago

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Siddharth Mohanty took charge as the interim chairman of Life Insurance Corporation of India ie LIC on Tuesday. He has been given the additional charge of chairman for three months from March 14. He is also the Managing Director of LIC ie MD. Prior to this, he has also been the MD and CEO of LIC Housing Finance. After not giving extension to Mangalam Ramasubramaniam Kumar, Siddharth has been given this responsibility.

In 2019, the government made MR Kumar the chairman of LIC. He should remain on this post till 30 June 2021. He got the first extension from July 2021 to March 2022. Then got a second extension from April 2022 to March 2023. The Centre’s decision not to extend Kumar’s tenure now comes at a time when LIC’s investment in Adani Group is under intense scrutiny due to allegations by American short seller Hindenburg Research.

Siddharth Mohanty joined LIC in 1985

  • Siddharth joined LIC in the year 1985 as an apprentice officer.
  • He holds a master’s degree in Political Science from Utkal University, Bhubaneswar.
  • Also holds PG certification in Business Management from Xavier Institute, Bhubaneswar.
  • Also passed the Licentiate Examination conducted by the Insurance Institute of India in November 2002.
  • He has also served as the COO, CEO and MD of LIC Housing Finance.

Siddharth is the MD of LIC from 1 February 2021
Siddharth Mohanty was made the MD of LIC on February 1, 2021. He had succeeded TC Sushil Kumar, who retired on January 31, 2021. He will serve in this post till his superannuation on June 30, 2023. LIC is headed by a chairman and four MDs.

  1. Siddharth Mohanty was appointed in February 2021.
  2. BC Patnaik is due to retire at the end of this month.
  3. Mini Ipe was commissioned in August 2021.
  4. The post of LIC MD is vacant after the retirement of Raj Kumar on 31 January.

LIC India’s largest insurance company
LIC is the largest insurance company in India and the fifth largest in the world in terms of Gross Written Premiums (GWP). It is also the tenth largest insurance company in the world by total assets. The company has 13.35 lakh agents and services policies worth Rs 27.80 crore, making it the third strongest insurance brand globally.

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Amit

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