Site icon

Siddhartha Mohanty Is Appointed As Chairman of LIC Until June 2024

According to a statement from LIC, Siddhartha Mohanty has been chosen to lead the Life Insurance Corporation of India through June 29, 2024. Then, until June 7, 2025, he will hold the positions of Managing Director and Chief Executive Officer. The state-run life insurance company’s interim Chairperson has been Mohanty, who is currently the Managing Director, since March 14. M R Kumar, whose term had ended on March 13, 2023, was replaced by him.

Siddhartha Mohanty Is Appointed As Chairman of LIC – Highlights

Siddhartha Mohanty has been appointed as the Chairperson of the Life Insurance Corporation of India (LIC) until June 29, 2024, and subsequently as the Managing Director and Chief Executive Officer until June 7, 2025, as announced by LIC.

Mohanty has been associated with LIC since 1985 when he joined as a trainee officer and has since gained significant experience in the insurance industry, holding various positions such as COO and CEO of LIC Housing Finance Ltd, senior divisional manager in Raipur and Cuttack, and chief in legal and investment monitoring and accounting.

LIC, which manages assets worth more than Rs 44.35 crore as of December 2022, has three managing directors – M Jagannath, Tablesh Pandey, and Mini Ipe.

Meanwhile, Bishnu Charan Patnaik, who was previously the Managing Director of LIC, has been selected by the Appointment Committee of Cabinet to become the Whole-time Member (Life) of the Insurance Regulatory and Development Authority of India (IRDAI). Patnaik will assume the post from the date of his appointment until he reaches the age of 62.

Siddhartha Mohanty Is Appointed As Chairman of LIC – FAQs

Q1: Who has been appointed as the Chairman of LIC and what is his tenure?

Ans: According to a release from LIC, Siddhartha Mohanty has been named as the Chairman of Life Insurance Corporation of India (LIC) until June 29, 2024, and thereafter as the Managing Director and Chief Executive Officer till June 7, 2025.

Q2: What is Siddhartha Mohanty’s background and experience in the insurance industry?

Ans: Since joining the LIC in 1985 as a trainee officer, Siddhartha Mohanty has been a part of the organisation. He has held a number of positions over the years, including COO and CEO of LIC Housing Finance Ltd, senior divisional manager in Raipur and Cuttack, and head of legal, investment monitoring, and accounting. He has accumulated a great deal of knowledge in the insurance sector.

Q3: Who has been selected to become the Whole-time Member (Life) of the Insurance Regulatory and Development Authority of India (IRDAI)?

Ans: The Appointment Committee of Cabinet has chosen Bishnu Charan Patnaik, who most recently served as the Managing Director of LIC, to fill the position of Whole-time Member (Life) of the Insurance Regulatory and Development Authority of India (IRDAI). From the time of his appointment until he turns 62, Patnaik will hold the position.

Author

  • Priti Palit, an accomplished edtech writer, boasts a wealth of experience in preparing candidates for multiple government exams. With a passion for education and a keen eye for detail, she has contributed significantly to the field of online learning. Priti's expertise and dedication continue to empower aspiring individuals in their pursuit of success in government examinations.

Exit mobile version