R Doraiswamy Appointed New Managing Director of LIC
GG News Bureau
New Delhi, 16th Aug. The central government has named R Doraiswamy, currently the Executive Director of Life Insurance Corporation of India (LIC), as the new Managing Director of the prestigious insurance corporation. Doraiswamy will take over for Ipe Mini, the current MD of LIC, who is slated to retire at the end of this month.
Doraiswamy’s appointment is effective from the time he takes office, which will be on or after September 1, 2023. His appointment will last until his superannuation on August 31, 2026, or until additional orders are issued, according to the government’s formal order.
As of now, LIC operates with four Managing Directors, including Mini Ipe, M Jagannath, Tablesh Pandey, and Sat Pal Bhanoo. The recent addition of Sat Pal Bhanoo as an MD was made by the government in the previous month.
It is worth noting that in June of this year, the Financial Services Institutions Bureau (FSIB), which serves as the headhunter for top posts in state-owned banks and financial institutions, recommended R Doraiswamy’s name as the Managing Director of LIC.
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