LIC of India , the country's largest insurer, has announced a significant change in its top leadership. Ramakrishnan Chander has been appointed as the new Managing Director, effective December 01, 2025. This move marks a crucial development in the management structure of the insurance giant.

Key Appointment Details

Professional Background

Chander brings a wealth of experience to his new role:

• Previously served as Executive Director (Investment-Front Office) and Chief Investment Officer at LIC
• Boasts 35 years of experience in the insurance sector
• Expertise spans across marketing, administration, and international operations

This appointment comes at a crucial time for LIC, as the insurance sector faces evolving challenges and opportunities in the Indian market. Chander's extensive experience, particularly in investments and international operations, is expected to be valuable in steering LIC through the competitive landscape.

The transition in leadership is part of LIC's ongoing efforts to strengthen its market position and adapt to changing industry dynamics. As the new Managing Director, Chander will be responsible for overseeing the corporation's strategic direction and operational excellence.

LIC, being a key player in India's financial sector, is closely watched by investors and policyholders alike. This management change is likely to be of interest to stakeholders monitoring the corporation's governance and strategic initiatives.

Looking Ahead

As Ramakrishnan Chander takes the helm, the insurance industry will be keen to observe any new directions or strategies that LIC might adopt. His background in investments and international operations could potentially influence LIC's approach to market expansion and portfolio management in the coming years.

Stakeholders will be watching closely to see how this leadership change might impact LIC's performance and market strategies in an increasingly competitive insurance landscape.

LIC of India , the country's largest insurer, has reported a robust 12% year-on-year increase in total premium, reaching ₹3.1 lakh crore for the first half of fiscal year 2026. This growth underscores LICI's strong market position and its ability to expand its premium base in a competitive insurance landscape.

Strategic Focus on Non-Participating and Protection Segments

LICI has set an ambitious target of achieving a 15% compound annual growth rate (CAGR) in premium over the next three years. The company's strategy involves a heightened focus on non-participating and protection segments, which are expected to drive growth and profitability.

Improved Value of New Business (VNB) Margin

A key highlight of LICI's performance is the expansion of its Value of New Business (VNB) margin to 17.2%. This improvement indicates enhanced profitability of new policies sold by the insurer and reflects the company's efforts to optimize its product mix and distribution efficiency.

Strengthening Distribution Channels

LICI is actively working on reinforcing its distribution network, with particular emphasis on:

1. Bancassurance partnerships
2. Digital distribution channels

These initiatives aim to broaden the company's reach and make insurance products more accessible to a wider customer base.

Operational Efficiency Measures

The insurer is implementing measures to enhance its operational efficiency, focusing on two key areas:

1. Improving persistency rates
2. Optimizing cost structures

These efforts are expected to contribute to the company's overall profitability and sustainability in the long run.

Expansion Plans in Health and Term Assurance

As part of its growth strategy, LICI plans to expand its market share in the health and term assurance segments. This move aligns with the company's focus on increasing its presence in protection-oriented products, which typically offer higher margins.

Financial Performance Overview

Future Outlook

LICI's target of a 15% CAGR in premium over the next three years reflects the company's confidence in its growth strategy. The focus on non-participating and protection segments, coupled with efforts to enhance distribution and operational efficiency, positions LICI to potentially capture a larger market share in the evolving Indian insurance landscape.

As the insurance sector continues to grow and evolve, LICI's strategic initiatives and robust financial performance suggest that the company is well-positioned to maintain its leadership in the Indian life insurance market. However, the achievement of these targets will depend on various factors, including market conditions, regulatory environment, and successful execution of the company's strategies.