Life Insurance Corporation of India (LIC) has announced the resignation of its Chief Financial Officer (CFO), Sunil Agrawal, who is stepping down to pursue better career opportunities after serving in the role for more than 4 years.
In a regulatory filing, LIC said Agrawal, who also served as the corporation’s Key Managerial Personnel, submitted his resignation on June 24. He will cease to hold the positions of CFO and Key Managerial Personnel at the close of business on July 14.
Agrawal joined LIC in March 2022 on a contractual basis, becoming the insurer’s first major lateral hire for the finance leadership role as the company prepared for its landmark initial public offering.
Before joining LIC, Agrawal spent more than 12 years as CFO of Reliance Nippon Life Insurance. He also held leadership roles at ICICI Prudential Life Insurance, bringing extensive experience from the insurance sector to LIC.
In his resignation letter, Agrawal said he was stepping down “to pursue better prospects” and requested to be relieved of his responsibilities with effect from July 14. He also thanked the corporation for the opportunities, guidance, and encouragement he received during his tenure and said he would be happy to support the transition process if required.
LIC acknowledged Agrawal’s contributions, stating that it places on record its sincere appreciation for his valuable service during his tenure and wished him success in his future endeavours.
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