The Life Insurance Corporation of India (LIC) has announced the re-designation of Chairman Siddhartha Mohanty as the Chief Executive Officer and Managing Director (CEO&MD), effective June 30, 2024. This announcement was made public through an exchange filing on Sunday. The company has not yet disclosed plans to appoint a new chairperson.

Siddhartha Mohanty began his career with LIC as an apprentice officer in 1985. Over his nearly four-decade tenure, he has served in various significant roles, including Chief Operating Officer and CEO of LIC Housing Finance. His other notable positions include Senior Divisional Manager of Raipur and Cuttack, Chief (Legal), Chief (Investment – Monitoring and Accounting), and Executive Director (Legal).

Mohanty holds a Bachelor’s degree in Law and a Master’s degree in Arts (Political Science) from Utkal University, Bhubaneswar. Additionally, he has a post-graduate certification in Business Management from the Xavier Institute of Management, Bhubaneswar.