New Delhi (13.05.2025): Based on the recommendations of the Financial Services Institutions Bureau (FSIB) the Appointments Committee of the Cabinet (ACC) approved the appointment of Dinesh Pant and Ratnakar Patnaik to the post of Managing Director (MD), LIC of India. Both MDs will take charge on June 01, 2025.
FSIB selected Pant and Patnaik for MD position on February 20, 2025. LIC Board comprises five managing directors and an MD & CEO.
Dinesh Pant will serve as MD till May 31, 2027 i.e. his superannuation or until further orders, whichever is earlier. Currently, he is working in LIC as Executive Director (Actuarial), Central Office, Mumbai.
Beginning his stint Ratnakar Patnaik will continue as MD till March 31, 2028 i.e. till his superannuation or until further orders, whichever is earlier. Currently, he is Executive Director (INVT - Front Office & CIO), Central Office (LIC) Mumbai.
It may be underlined that two posts of MD are falling vacant vice M Jagannath and Tablesh Pandey as both are retiring on May 31, 2025 while the incumbent CEO & MD Siddhartha Mohanty will be completing his terms of service in the first week of June.
