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Siddhartha Mohanty Takes Charge As Interim Chairperson Of LIC
This move is expected to ensure continuity in the operations of LIC of India
Siddhartha Mohanty, the Managing Director of Life Insurance Corporation (LIC) of India, has assumed the role of Interim Chairperson of the Corporation. The decision was made in accordance with a communication from the Government of India on 11 March 2023.
He has taken over the financial and administrative powers and functions of the Chairperson of LIC of India in addition to his own duties. This comes as an extension of the earlier filing.
Mohanty has been associated with LIC for over three decades and has served in various capacities, including the role of Zonal Manager of Delhi and Chief Executive Officer of LIC Pension Fund. He holds a bachelor's degree in economics and a postgraduate degree in Business administration.
This move is expected to ensure continuity in the operations of LIC of India, which is the largest insurance company in the country, with a market share of over 70 per cent. The Corporation has been serving the nation since 1956 and has been instrumental in promoting social welfare through various insurance schemes.
