Mumbai: Life Insurance Corporation of India (LIC) has appointed R Doraiswamy as its new Chief Executive Officer and Managing Director, marking a pivotal leadership transition under the corporation’s revamped governance structure. His appointment follows several months of interim leadership and aligns with the amended LIC Act, 2021, which merges the roles of CEO and MD into a single executive position to enhance accountability and decision-making.
Doraiswamy, who joined LIC in 1986, brings with him 38 years of multifaceted experience spanning training, group plans, pensions, marketing, IT, and operations. Prior to this elevation, he served as Managing Director of LIC’s Southern Zone, where he was instrumental in driving operational excellence and regional growth.
The Cabinet’s Appointments Committee approved his nomination based on the recommendation from the Financial Services Institutions Bureau (FSIB). Doraiswamy will serve a three-year term or until he reaches the age of 62 (August 28, 2028), whichever is earlier, as confirmed by the Department of Financial Services.
A graduate in Mathematics from Madurai Kamaraj University and a Fellow of the Insurance Institute of India, Doraiswamy assumes leadership at a critical juncture for LIC, as the company continues to adjust to a post-IPO landscape, intensifying competition, and growing demands for transparency and shareholder value.
His appointment represents a structural shift aimed at reinforcing LIC’s long-term vision, ensuring stability, strategic continuity, and leveraging deep domain expertise to steer the institution through its next phase of evolution.
