R Doraiswamy Appointed LIC MD and CEO Till 2028

The Government of India has appointed R Doraiswamy as the new Managing Director (MD) and Chief Executive Officer (CEO) of Life Insurance Corporation of India (LIC), effective from July 15, 2025. His term will continue until August 28, 2028, when he reaches the retirement age of 62. This appointment is important as LIC is India’s largest insurance company and plays a key role in the financial sector.

Who Is R Doraiswamy?

R Doraiswamy has over 38 years of experience at LIC. He has worked in various departments including operations, marketing, technology, pensions, and insurance education. He was earlier serving as Executive Director (IT/Software Development) and has also held key positions such as Regional Manager (Marketing and Pensions) and Senior Divisional Manager in places like Chennai, Kottayam, and Pune.

He has also worked with the National Insurance Academy in Pune on research projects in micro insurance, product development, and insurance education. His qualifications include a Mathematics degree from Madurai Kamaraj University, and he is a Fellow of the Insurance Institute of India.

Appointment Process and Background

Doraiswamy was chosen for the top post following the recommendation by the Financial Services Institutions Bureau (FSIB) on June 11, 2025. His name was later approved by the Appointments Committee of the Cabinet (ACC), which is led by the Prime Minister.

He replaces Sat Pal Bhanoo, who served as interim MD and CEO from June 8 to September 7, 2025, after the end of Siddhartha Mohanty’s term on June 7.

LIC and Its Leadership Structure

LIC, which is a listed company under the Ministry of Finance, is one of the largest financial institutions in India. The leadership includes one CEO and MD, supported by four Managing Directors. The appointment of a new full-time CEO is expected to bring more stability and direction to the organisation’s long-term goals.