Siddhartha Mohanty Redesignated as CEO and Managing Director of LIC
| Aspect | Details |
|---|---|
| Event | LIC redesignates Siddhartha Mohanty as CEO and Managing Director effective 30 June 2024. |
| Current Role | Chairperson, LIC of India (since April 2023). |
| About Siddhartha Mohanty | - Joined LIC as Direct Recruit Officer in 1985. - Over 35 years of experience in Marketing, HR, Legal, and Investments. - Previously held roles: Sr. Divisional Manager, Regional Manager, CEO of LIC Housing Finance Ltd. |
| Educational Background | - Masters in Political Science. - Bachelor's Degree in Law. - Post Graduate Certification in Business Management. |
| Companies Act, 2013 | Allows separation of Chairperson and CEO roles. LIC can depart from this provision if permitted by its articles of association. |
| LIC's Listing | Listed on stock exchanges in May 2022 at ₹947 per share. Exempted from several SEBI Listing Obligations and Disclosure Requirements, 2015. |
| LIC's Establishment | Statutory Corporation under Section 3 of LIC Act, 1956. Established on 1 September 1956. |
| LIC's Mission | Enhance quality of life through financial security, providing competitive products and resources for economic development. |
| LIC's Vision | To become a trans-nationally competitive financial conglomerate, a significant entity for society and a pride of India. |
| 67 Years of Existence | Dominant life insurer in India, with significant growth in customer base, agency network, branch offices, and new business premiums. |