LIC Names Sat Pal Bhanoo As Interim CEO And MD For Three Months

In a post on X, LIC of India (@LICIndiaForever) announced on Sunday that Sat Pal Bhanoo has been given additional charge as Chief Executive Officer and Managing Director for three months starting June 8, 2025. This follows the Ministry of Finance’s Department of Financial Services approval dated June 7, 2025.

The appointment, effective until September 7, 2025, or until a new CEO and MD takes over, comes after Siddhartha Mohanty’s term ended on June 7. Mohanty, who began his journey with LIC as an apprentice officer in 1985, concluded a long and distinguished tenure at the insurance giant.

Bhanoo is currently the seniormost among LIC’s four Managing Directors.

The vacancy arose as Siddhartha Mohanty’s term as LIC’s CEO and MD concluded on June 7, 2025. Mohanty, who started his journey with LIC in 1985 as an apprentice officer, retired after a distinguished tenure at the insurance behemoth.

Bhanoo took charge as Managing Director of Life Insurance Corporation of India on July 20, 2023, according to the LIC website. With a history degree from Himachal Pradesh University, he joined LIC in 1988 as a Special Batch Direct Recruit Officer and has held several senior roles across marketing and human resources. Bhanoo is known for fostering a culture of growth and empowerment wherever he has worked. Outside of work, he enjoys meeting people and listening to music.