India's LIC to have CEO, managing director instead of chairman

Both the CEO and managing director positions will be appointed by the government.

The Life Insurance Corporation of India (LIC), which has been gearing up for an IPO, will now be governed by a CEO and a managing director, instead of a chairman, according to media reports.

The amendments have been notified by the Department of Financial Services through the rules in the LIC Act of 1956. Both the CEO and managing director positions will be appointed by the government.

The government has also changed the rules in order to name a full-time actuary for the LIC, reports said.

The actuary must be a member of the Institute of Actuaries of India or the Institute of Actuaries in London and be nominated by the CEO or an authorised committee.

Follow the link for more news on

Life Insurance Corporation of India

India

Also Read

APAC reinsurers poised for growth on the back of sustained demand

Double-digit premium growth lifts AIA to record value of new business in Q3

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit