Sat Pal Bhanoo Appointed Interim MD & CEO of LIC.
Appointment
On June 8, 2025, Sat Pal Bhanoo, currently serving as Managing Director at the Mumbai headquarters of the Life Insurance Corporation of India (LIC), was given interim charge as Managing Director (MD) and Chief Executive Officer (CEO) of LIC.
- The appointment, approved by the Department of Financial Services (DFS) under the Ministry of Finance (MoF), will be in effect for three months—from June 8 to September 7, 2025—or until a permanent successor is appointed.
- This move follows the completion of Siddhartha Mohanty’s tenure as MD & CEO on June 7, 2025. Mohanty, who began his journey with LIC in 1985 as an apprentice officer, had been leading the corporation until the end of his term.
- Life Insurance Corporation of India (LIC) is a government-owned statutory corporation and the largest life insurer in the country. Apart from its core insurance services, LIC plays a vital role as a leading institutional investor in India's financial ecosystem.
Main Point :- (i) Sat Pal Bhanoo began his journey with LIC in 1988 as a Special Batch Direct Recruit Officer.
(ii) He became Managing Director of LIC on July 20, 2023, succeeding Siddhartha Mohanty. Over the years, he has served on the boards of prominent entities such as Mahindra & Mahindra Ltd., LIC Bangladesh Ltd., and LIC Golden Jubilee Foundation.
(iii) Bhanoo is actively involved in the insurance sector's development and governance. He is a member of the governing bodies of the National Insurance Academy and the Insurance Institute of India, reflecting his leadership beyond LIC.
About LIC
MD & CEO : Sat Pal Bhanoo
Headquarter : Mumbai
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