Life Insurance Corporation of India (LIC) on Sunday said Sat Pal Bhanoo has given additional charge of MD and CEO of the insurance company following approval of the Department of Financial Services.
"The Department of Financial Services, Ministry of Finance, vide its letter dated June 7, 2025 conveyed the approval of the competent authority, entrusting the financial and administrative powers and functions of the CEO and MD of the Corporation, for a period of 3 months with effect from June 8, 2025, that is up to September 7, 2025 or till assumption of charge of the post by the regular incumbent," LIC said in a regulatory filing.
Bhanoo is the seniormost among the four LIC MDs.
The vacancy was created by the completion of the term of Siddhartha Mohanty as CEO and MD of LIC on June 7, 2025. Mohanty had joined the insurance giant as an apprentice officer in 1985.
"The Department of Financial Services, Ministry of Finance, vide its letter dated June 7, 2025 conveyed the approval of the competent authority, entrusting the financial and administrative powers and functions of the CEO and MD of the Corporation, for a period of 3 months with effect from June 8, 2025, that is up to September 7, 2025 or till assumption of charge of the post by the regular incumbent," LIC said in a regulatory filing.
Bhanoo is the seniormost among the four LIC MDs.
The vacancy was created by the completion of the term of Siddhartha Mohanty as CEO and MD of LIC on June 7, 2025. Mohanty had joined the insurance giant as an apprentice officer in 1985.
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