LIC of India , the country's largest insurer, has announced a significant leadership change. R Doraiswamy has been appointed as the new Chief Executive Officer (CEO) and Managing Director of LIC, marking a new chapter in the company's storied history.

Appointment Details

According to a regulatory filing by LIC, R Doraiswamy assumed the role of CEO and Managing Director on July 14, 2025. The appointment, made by the Government of India, is for a three-year term or until Doraiswamy reaches the age of 62 (August 28, 2028), whichever comes first.

Extensive Experience

Doraiswamy brings a wealth of experience to his new role, with over 39 years in the insurance industry. Prior to this appointment, he served as a Managing Director at LIC, overseeing crucial areas such as marketing through bancassurance, group business, customer relations, finance, and compliance functions.

Career Highlights

Throughout his career, Doraiswamy has held various leadership positions within LIC, including:

• Executive Director (Information Technology/Software Development)
• Regional Manager (Marketing / Chief Life Insurance Advisor)
• Regional Manager (Pension & Group Schemes) at Southern Zonal Office, Chennai
• Senior Divisional Manager of Kottayam Division
• Marketing Manager of Chennai-I, Thanjavur and Pune divisions

Technological Advancements

One of Doraiswamy's notable achievements has been his instrumental role in driving IT initiatives within LIC. As Chief & Executive Director, he spearheaded the modernization of IT infrastructure and business applications for LIC's individual business segment, showcasing his commitment to technological advancement in the insurance sector.

Educational Background

Doraiswamy's academic credentials include:

• Graduate in Mathematics from Madurai Kamaraj University
• Fellow Member of the Insurance Institute of India
• Student member of the Institute of Actuaries of India

Leadership Transition

Doraiswamy succeeds Sat Pal Bhanoo, who was serving as the interim CEO. With this appointment, Bhanoo ceases to hold the financial and administrative powers and functions of the CEO & MD position.

Market Response

As of the latest available data, LIC shares closed at ₹916.00, which is below their initial public offering (IPO) price of ₹949.00. This price movement suggests that investors are closely watching the company's performance and leadership changes.

The appointment of R Doraiswamy, with his extensive experience and track record in driving technological advancements, signals LIC's focus on modernization and growth in an increasingly competitive insurance market. Stakeholders will be keen to see how Doraiswamy's leadership will shape the future direction of India's largest life insurer.

LIC of India , the country's largest insurer, has announced a significant leadership change. R Doraiswamy has been appointed as the new Chief Executive Officer (CEO) and Managing Director (MD) of the corporation, effective immediately.

Appointment Details

R Doraiswamy replaces Siddhartha Mohanty, whose term ended on June 7. This appointment marks a new chapter in LIC's management, with Doraiswamy bringing over 37 years of experience in operations, marketing, technology, and academics to the role.

Professional Background

Doraiswamy's extensive experience in the insurance sector includes:

• Previously serving as Managing Director of LIC since September 2023
• Over 37 years of diverse experience in LIC operations, marketing, technology, and academics
• Various leadership positions within the organization

Transition of Power

As part of this leadership change:

• R Doraiswamy has assumed charge as CEO & MD
• The appointment is effective immediately

This appointment marks a significant transition for LIC, bringing in a leader with extensive experience in various aspects of the insurance business. Doraiswamy's background in technology, marketing, and operations positions him well to guide LIC through the evolving landscape of the Indian insurance sector.