Life Insurance Corporation of India Appoints Varadarajan Muthuvenkataraman as Additional Executive Director (Enterprise Risk Management)

Life Insurance Corporation of India has announced the elevation of Mr. Varadarajan Muthuvenkataraman to the position of Additional Executive Director (Enterprise Risk Management) at its Central Office in Mumbai, effective April 24, 2026. The appointment was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and has been communicated to both BSE Limited and National Stock Exchange of India Ltd.

Appointment Details

The following table outlines the key details of the appointment:

S. No.	Name of the SMP	Earlier Designation	Current Designation
1	Mr. Varadarajan Muthuvenkataraman	Regional Manager, LIC Housing Finance Limited, Chennai	Additional Executive Director (Enterprise Risk Management), Central Office, Mumbai

Professional Background

Mr. Varadarajan Muthuvenkataraman joined the Corporation in 1992 as an Assistant Administrative Officer. He holds a graduate degree in Chemistry from the University of Madras and is a Fellow of the Insurance Institute of India. Additionally, he has completed the Post Graduate Executive Programme conducted by the Indian Institute of Management, Ahmedabad.

Career Progression

Throughout his career spanning more than three decades, Mr. Muthuvenkataraman has worked in various capacities in both administrative and marketing wings across multiple offices:

South Central Zone
South Zone
Central Office

He has held key leadership positions including:

Branch Manager and Senior Branch Manager in various branches in South Central Zone and South Zone
Divisional Manager (Pension and Group Schemes) in South Zone
Manager (Sales) in Life Insurance Corporation (Singapore) Pte Ltd., a wholly owned subsidiary of the Corporation
Regional Manager of Direct Marketing and Micro Insurance departments
Secretary (Marketing / Senior Business Associate) at South Zone
Secretary (Strategic Business Unit – International Operations) at Central Office

Prior to taking charge as Additional Executive Director (Enterprise Risk Management), he was serving as Regional Manager at the Southern Regional Office of LIC Housing Finance Ltd., Chennai, an Associate of the Corporation.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.07%	-3.64%	+9.60%	-9.88%	-1.17%	-7.34%

Life Insurance Corporation of India (LIC) has reported robust growth in its new business performance, with first-year premium collections reaching Rs 433 billion in March. The figure represents a strong 17.3% year-on-year increase, highlighting the insurer's continued market momentum.

Premium Performance Overview

The significant growth in first-year premiums demonstrates LIC of India 's ability to attract new customers and expand its business base. First-year premiums are a key indicator of an insurance company's new business acquisition capabilities and market penetration.

Performance Metric:	March Results
First-Year Premium:	Rs 433 billion
Year-on-Year Growth:	17.3%

Market Position

The substantial premium collection figure underscores LIC's dominant position in India's life insurance sector. The 17.3% growth rate indicates strong customer confidence and effective distribution network performance during the period.

Business Implications

The robust first-year premium growth reflects positive market conditions and LIC's competitive product offerings. This performance metric is particularly significant as it represents fresh business generation rather than renewals, indicating the company's success in expanding its customer base and market reach during March.