Sat Pal Bhanoo’s appointed as Managing Director and Chief Executive Officer at Life Insurance Corporation of India (LIC) approved by The Department of Financial Services.
According to LIC’s regulatory filing, the appointment was approved by a letter dated June 7, 2025, from the Ministry of Finance’s Department of Financial Services. Beginning on June 8, 2025, and lasting for three months, or until a regular incumbent takes over, whichever comes first, Bhanoo will serve in the role.
Out of the four managing directors of LIC, Bhanoo is the most senior.
The transition in leadership occurred when Siddhartha Mohanty’s tenure as CEO and MD concluded on June 7, 2025. Since joining LIC as an apprentice officer in 1985, Mohanty has guided the business through significant strategic changes and its historic public listing.
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