LIC Independent Directors Shri Vinod Kumar Verma and Dr. Ranjan Sharma Complete Terms

LIC of India has announced the cessation of two Independent Directors upon completion of their respective terms. The insurance giant informed stock exchanges about this corporate governance development through a regulatory filing under Regulation 30 of the SEBI Listing Regulations.

Director Cessation Details

Shri Vinod Kumar Verma (DIN: 09309031) and Dr. Ranjan Sharma (DIN: 09573799) ceased to hold their positions as Independent Directors on April 28, 2026, after the close of day. Both directors completed their terms as scheduled, marking the end of their tenure with the corporation.

Director Details:	Information
Shri Vinod Kumar Verma DIN:	09309031
Dr. Ranjan Sharma DIN:	09573799
Cessation Date:	April 28, 2026 (after close of day)
Reason:	Completion of term

Committee Responsibilities Impact

Consequent to their cessation as Independent Directors, both individuals also stepped down from their roles as chairpersons and members of various board committees. The impact on committee structure is significant given their extensive involvement across multiple governance bodies.

Committee	Shri Vinod Kumar Verma	Dr. Ranjan Sharma
Executive Committee	-	Member
Investment Committee	Member	-
Nomination and Remuneration Committee	Member	Member
Risk Management Committee	Member	-
Audit Committee	Member	-
Policyholder Protection Committee	Member	Chairperson
Stakeholders Relationship Committee	Chairperson	-
Committee for Review of Wilful Defaulters	-	Member
Building Advisory Committee	Member	Member

Regulatory Compliance

The announcement was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The corporation has fulfilled all disclosure requirements as mandated under the listing regulations, providing comprehensive details about the cessation in the prescribed format.

The information has been disseminated to both BSE Limited and National Stock Exchange of India Ltd., ensuring proper market communication. Additionally, the corporation has made this information available on its official website at www.licindia.in for stakeholder access.

Corporate Governance Transition

The cessation represents a planned transition in the corporation's board composition as both directors completed their scheduled terms. The disclosure confirms that neither director was debarred from holding directorship positions by SEBI or any other regulatory authority, indicating a routine completion of tenure.

The company secretary and compliance officer, Anshul Kumar Singh, signed the regulatory filing, ensuring proper corporate governance protocols were followed in announcing these board changes.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.79%	-2.75%	+4.21%	-12.20%	-0.31%	-8.84%

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.