Siddhartha Mohanty Appointed LIC Chairperson By Government

The Union government has approved the appointment of Siddhartha Mohanty as chairperson of the Life Insurance Corporation.

The Appointments Committee of the Cabinet approved the Department of Financial Services' proposal to appoint Mohanty as the chairperson of India's insurance behemoth up to June 29, 2024, according to an official release issued on Friday.

In March, Mohanty was appointed as the interim chairperson for three months after the completion of the term of Mangalam Ramasubramanian Kumar as chairperson on March 13, in addition to his duties as a managing director.

After June 2024, Mohanty will continue to hold office as the chief executive officer and managing director up to 62 years of age until June 7, 2025.