Govt appoints Siddhartha Mohanty as LIC chairman

The government has appointed Siddhartha Mohanty as chairman of Life Insurance Corporation of India till June 2024. Chairman Mohanty will be the managing director and chief executive officer of the insurance behemoth from June 2024 till June 2025.Mohanty had been serving as interim chairman of the corporation from March 14, 2023. Mohanty is a postgraduate in political science and also holds a degree in law. Mohanty also holds a postgraduate degree in business management and is a licentiate from the Insurance Institute of India. In a career spanning over three decades in the corporation, Mohanty has made his mark in the areas of Marketing, HR, Investments and Legal. Financial Services Institutions Bureau (FSIB) recommended Siddhartha Mohanty’s name for the post of chairman. The decision regarding the appointment of Mohanty as the LIC chairman was taken by the Appointments Committee of Cabinet (ACC) headed by PM Narendra Modi. In a statement, FSIB said that the bureau interfaced with four candidates on March 23 for the position of Chairperson in the Life Insurance Corporation of India.