Mohanty, LIC MD, named as comapany’s chairman

The government on Friday appointed Siddhartha Mohanty (currently MD) as the new chairman of LIC. Former LIC MD B C Patnaik has been appointed as the member (life) of Irdai.
Last month, the Financial Services Institutions Bureau (FSIB), the headhunter for directors of state-owned banks and financial institutions, recommended Mohanty’s name as chairman of LIC.
Mohanty has been appointed as LIC head till June 2025, when he attains the age of 62 years. The government appointed Patnaik as a member (life) of Irdai till he becomes 62 too. The notifications came after the nod of the appointments committee of the Cabinet, headed by PM Narendra Modi, the sources said.

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