The central government appointed R Doraiswamy as managing director of the Life Insurance Corporation of India (LIC) on August 14. According to the company, Doraiswamy, who is now an executive director at the central office in Mumbai, will succeed Ipe Mini as managing director. The appointment will take effect on or after September 1, 2023, and will last until his retirement on August 31, 2026, or until further orders are issued, whichever comes first.
The Financial Services Institutions Bureau (FSIB), which recruits directors for state-owned banks and financial institutions, recommended Doraiswamy as MD in June.
Bhanu Pratap Sharma, former secretary of the Department of Personnel and Training (DoPT), leads the FSIB.
The headhunter also includes the secretary of Financial Services, the secretary of Public Enterprises, IRDAI Chairman Debasish Panda, former LIC managing director Usha Sangwan, and former Oriental Insurance managing director A V Girija Kumar.