Mumbai: The Centre has appointed Siddhartha Mohanty as the interim chairman of the Life Insurance Corporation of India (LIC) for a three months period, starting March 14, according to CNBC.
At present, Siddhartha Mohanty was appointed as the Managing Director and Chief Executive Officer of LIC Housing Finance.
He will continue to serve as the MD of LIC until his retirement on June 30, 2023, as per his nomination.
Currently, Mangalam Ramasubramanian Kumar is the chairman of the company.
Life Insurance Corporation is globally ranked as the fifth-largest life insurer in terms of life insurance gross written premiums (GWP) and the tenth-largest in terms of total assets.
The company boasts a network of 1,335,000 agents and manages policies worth Rs 27.80 crore.
Overall, LIC is considered to be the third-most robust insurance brand on a global scale.
