LIC

Life Insurance Corporation of India (LIC) has announced that Sat Pal Bhanoo, the seniormost among the four managing directors, has been appointed as the acting chief executive officer and managing director. This temporary appointment follows approval from the Department of Financial Services (DFS) under the Ministry of Finance and is set to run until early September or until a permanent appointment is made.

India’s largest life insurer, the Life Insurance Corporation of India (LIC), has inducted two senior executives—Ratnakar Patnaik and Dinesh Pant—into its top leadership, appointing them as Managing Directors effective May 14, 2025. With these appointments, LIC strengthens its leadership team, which operates under a four-MD structure. Patnaik, formerly the Chief Investment Officer, brings extensive expertise in capital markets, while Pant, the corporation’s Appointed Actuary, adds deep technical and regulatory knowledge.

Life Insurance Corporation of India (LIC) reported a significant 38% increase in net profit to Rs. 19,013 crore for the quarter ending March 2025, despite a slight decline in total income during the period. While first-year premium collections softened, renewal premium income showed steady growth, underscoring the strength of LIC’s recurring revenue streams. For the full fiscal year 2024-25, the insurer posted an 18% rise in profit to Rs. 48,151 crore, with total income also increasing. The board has proposed a final dividend of Rs.