Sat Pal Bhanoo Appointed Interim CEO of LIC

Sat Pal Bhanoo has been appointed as the interim MD and CEO of the Life Insurance Corporation of India for a period of three months following approval from the Department of Financial Services. This appointment fills the vacancy left by Siddhartha Mohanty's term completion.

In a significant leadership change, Sat Pal Bhanoo has been given additional charge as the interim Managing Director and CEO of the Life Insurance Corporation of India (LIC). This development follows the approval from the Department of Financial Services, marking an important transition period for the insurance giant. Bhanoo's appointment is effective from June 8, 2025, and will last for a period of three months, or until the post is filled permanently.

The interim appointment comes in the wake of the vacancy created by Siddhartha Mohanty's completion of his term as CEO and MD on June 7, 2025. Mohanty, who has been a part of LIC since 1985 when he joined as an apprentice officer, left a notable legacy at the helm of the organization.

Landing additional responsibilities as the most senior among the four current LIC Managing Directors, Bhanoo steps into this crucial role with a mandate to maintain stability and oversee the corporation’s financial operations amid a transition phase.