- Satpal Bhanu who is currently working as Additional Regional Manager in the Zonal Office of Life Insurance Corporation of India at Bhopal has been appointed as the new Managing Director of the Company.
- He will take over from Siddharth Mohanty who has been appointed as the chairman of the firm in April 2023.
- FSIB proposes Satpal Bhanu for the post of Managing Director of LIC; Siddharth Mohanty approved as interim president
LIC
- LIC whose full name is Life Insurance Corporation of India, holds the distinction of being the largest state-owned insurance company in India.
- It was established in 1956 and functions under the supervision of the Government of India. The Insurance Regulatory and Development Authority (IRDA) regulates its operations.
- The primary objective of LIC is to provide life insurance coverage to individuals while promoting savings and long term financial planning.