LIC has Appointed New Managing Directors

• The Central Government has appointed Ratnakar Patnaik and Dinesh Pant as Managing Directors of LIC
• Pant will serve until May 31, 2027, while Patnaik's term extends to March 31, 2028.
• Both are currently key managerial personnel within LIC

The Central Government has sanctioned the appointment of Ratnakar Patnaik and Dinesh Pant as Managing Directors of Life Insurance Corporation of India (LIC) from the date of joining on or after June 1, 2025. Their appointment has been made in advance of the impending superannuation of two existing MDs.

Pant and Patnaik occupy the two slots after Jagannath Mukkavilli and Tablesh Pandey, the two existing MDs of LIC, retire after the expiry of their term. They were made MDs in 2023.

"Pant will be MD up to May 31, 2027 i.e., his superannuation or till further orders, whichever is earlier. Presently, he is working in LIC as the appointed Actuary & Executive Director (Actuarial) and Key Managerial Personnel," the Corporation stated in a regulatory filing.

Patnaik will remain MD up to March 31, 2028 i.e., up to his superannuation or until further notice, whichever is earlier. Presently, he is the Executive Director (Investment – Front Office) & Chief Investment Officer and Key Managerial Personnel, Central Office (LIC), Mumbai.

LIC Managing Directors Jagannath Mukkavilli and Tablesh Pandey will be superannuating at this month-end.  Along with CEO & MD, the four MDs form the top deck of the LIC.