LIC appoints Sat Pal Bhanoo as managing director
Life Insurance Corporation (LIC) on Wednesday said that it has appointed Sat Pal Bhanoo as the managing director of the company. “Sat Pal Bhanoo, Additional Zonal Manager (In-Charge) Zonal Office, LIC of India, Bhopal, has been appointed as Managing Director, LIC of India vice Siddhartha Mohanty (presently serving as Chairperson) with effect from the date of assumption of charge of office and up to the date of his superannuation (i.e.31.12.2025), or until further orders, whichever is earlier," LIC said in a statement.
The Financial Services Institutions Bureau (FSIB), the headhunter for directors of state-owned banks and financial institutions, had recommended the name of Sat Pal Bhanoo for the post of managing director of LIC. Earlier, M.
Jagannath was appointed as one of the managing directors in LIC board. He had taken charge of the position on March 13, 2023.
The government had also approved the appointment of Siddhartha Mohanty as the interim chairman of LIC for three months with effect from March 14. The government was also set to appoint a full-time chairman at LIC by June.
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