Life Insurance Corporation Of India
NSE:LICI

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Life Insurance Corporation Of India
NSE:LICI
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Price: 890.65 INR -1.56%
Market Cap: 5.6T INR
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Life Insurance Corporation Of India
Investor Relations

Amidst the bustling economic landscape of India, the Life Insurance Corporation of India (LIC) stands as a towering pillar of financial security, deeply interwoven into the fabric of everyday life. Established in 1956 through the nationalization of 245 smaller insurance companies and provident societies, LIC emerged as a behemoth, dominating the Indian insurance sector. Its formidable presence is powered by a vast ecosystem of agents and a robust network that reaches even the most remote corners of the country. LIC offers a plethora of life insurance products that cater to diverse financial needs of individuals—from endowment plans and money-back policies to whole life and pension plans. The company acts as both a safety net and a wealth generator, promising policyholders payouts upon maturation of policies or financial assistance in the event of unforeseen circumstances.

At its core, LIC's business model is anchored in the collection of premiums from policyholders, which it then strategically reinvests across various asset classes. A significant portion of these funds are channeled into government securities, corporate bonds, real estate, and equity markets. This investment prowess enables LIC to not only fulfill commitments to policyholders but also generate substantial profits. These profits are then distributed as bonuses to policyholders with participating policies, thus creating a cycle of trust and financial stability. Additionally, with low management costs and high policy lapse recovery, LIC manages to stay financially resilient, ensuring its dominance in the Indian insurance industry continues unabated. The corporation’s role goes beyond mere insurance; it is a profound contributor to the economic infrastructure, underscoring its pivotal role in India's growth narrative.

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Management

Mr. Siddhartha Mohanty
CEO, Chairman & MD

Siddhartha Mohanty is an accomplished executive in the insurance industry, currently serving in a prominent leadership role at the Life Insurance Corporation of India (LIC), which is one of the largest insurance companies in India. He assumed the position of Chairperson of LIC in April 2023, marking a significant step in his career. Prior to becoming the Chairperson, Mohanty served as the Managing Director and CEO of LIC Housing Finance, a significant subsidiary of LIC, where he played a vital role in improving operational efficiencies and expanding the company’s reach in the housing finance sector. His tenure at LIC Housing Finance was characterized by strategic initiatives aimed at boosting growth and reinforcing the company’s position in the market. Mohanty joined LIC in 1985 as a direct recruit officer and has held various positions in different capacities throughout his tenure, accumulating a wealth of experience in strategic planning, risk management, and policy formulation. His comprehensive understanding of the insurance business and regulatory environment has been integral to his successful career. Educationally, Siddhartha Mohanty is well-equipped, holding a Master's degree in Political Science and a degree in Law. His academic background has provided him with a robust foundation to navigate complex regulatory landscapes and drive business strategies successfully. As Chairperson of LIC, Mohanty continues to focus on leveraging technology, enhancing customer experiences, and strengthening LIC’s market leadership amidst a dynamic and competitive insurance environment. His leadership style is often described as inclusive and forward-thinking, with a distinct focus on fostering innovation and sustainable growth.

Mr. Tablesh Pandey
MD & Executive Director

Tablesh Pandey was a high-ranking officer at the Life Insurance Corporation of India (LIC), holding significant positions such as Executive Director. With a background in actuarial science, Pandey contributed extensively to the company's actuarial and risk management strategies. Throughout his career at LIC, he played a crucial role in policy formulation, underwriting, and managing the financial risk of insurance products. Known for his expertise in the insurance sector, he has been instrumental in driving LIC’s initiatives to enhance operational efficiency and service delivery, ensuring the organization remained a leading player in the Indian insurance industry.

Mr. Doraiswamy Ramchandran
MD & Director

Doraiswamy Ramchandran is a prominent executive associated with the Life Insurance Corporation of India (LIC), which is one of the largest insurance companies in India. Over the years, he has played a significant role in the company's operations and strategic initiatives. Known for his expertise in insurance and finance, Mr. Ramchandran has contributed to LIC's growth and its efforts to adapt to changing market dynamics. His leadership style and decision-making capabilities have been instrumental in maintaining LIC's position as a leading insurance provider in India. Throughout his career, he has been involved in developing and implementing policies that align with LIC's objectives to maximize customer satisfaction and shareholder value.

Mr. Sunil Agrawal
Chief Financial Officer
No Bio Available
Mr. Ratnakar Patnaik
Executive Director of Investment Front Office & Chief Investment Officer

Ratnakar Patnaik is a prominent figure in the Indian insurance industry, serving as the Chief Investment Officer (CIO) of the Life Insurance Corporation of India (LIC). In his role as CIO, Patnaik is responsible for managing the investment strategies and portfolios of LIC, which is one of the largest institutional investors in India. This involves overseeing a massive and diverse investment portfolio that spans equities, bonds, real estate, and other financial instruments, all aimed at maximizing returns for policyholders and ensuring the financial stability of the corporation. Patnaik's educational background, extensive experience in finance, and leadership skills have significantly contributed to his success in this demanding role. Under his guidance, LIC's investment strategies are aligned with the organization's long-term objectives and regulatory requirements. Patnaik's tenure as CIO is marked by a deep understanding of market dynamics and a strategic approach to navigating economic challenges. His leadership is crucial for LIC as it continues to adapt to the evolving financial landscape while maintaining its commitment to policyholders.

Mr. Anshul Kumar Singh
Company Secretary & Compliance Officer
No Bio Available
Mr. Sudhakar Ravindranath
Executive Director of Marketing & Product Development and Chief Marketing Officer
No Bio Available
Mr. Pandiyan Kumaresan
Executive Director of Audit & Chief Internal Auditor
No Bio Available

Contacts

Address
MAHARASHTRA
Mumbai
Jeevan Bima Marg, P.O. Box No 19953, Yogakshema Building
Contacts
+9102268276827
www.licindia.in