The Financial Services Institutions Bureau (FSIB) has recommended Ramakrishnan Chander for the post of Managing Director (MD) at Life Insurance Corporation of India (LIC), media reports said on 30 September. The final appointment will be subject to approval by the Appointments Committee of the Cabinet (ACC).
Chander, who assumed the role of Chief Investment Officer and Key Managerial Personnel (CIO & KMP) at LIC on 5 June 2025, began his career with the insurer in 1990 as an Assistant Administrative Officer. Over the years, he has held several key leadership positions, including Senior Divisional Manager in Nagpur and Hyderabad, Regional Manager (Marketing) in the South Zone, and Regional Manager (Pension & Group Schemes) in the South Central Zone.
He holds a postgraduate diploma in financial management and is a Fellow of the Insurance Institute of India.
The recommendation comes soon after R Doraiswamy was appointed as LIC’s CEO and MD in July 2025, following the end of Siddhartha Mohanty’s tenure in June and an interim term by MD Sat Pal Bhanoo. Doraiswamy’s appointment, cleared by the ACC and notified by the Department of Financial Services, is for a term of three years or until the age of 62, whichever is earlier.
Chander is expected to take charge at a critical juncture for the state-run insurer, which continues to play a pivotal role in India’s life insurance and financial services sector. |
