Bhubaneswar: The Union government has appointed Siddhartha Mohanty as the full-fledged Chairman of the Life Insurance Corporation of India (LIC), the country’s biggest insurer.
Mohanty, who hails from Odisha, will lead LIC as chairman till June 2024 and then become chief executive till June 2025. He had been serving as interim chairman of the corporation since 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, human relations, investments and legal sector.
The 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 Prime Minister Narendra Modi.
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