Life Insurance Corporation of India (LIC), the country’s largest insurer, has ushered in a new chapter in its leadership. The Central government officially appointed Mr. R Doraiswamy as LIC’s CEO and Managing Director (MD) on July 14, 2025, making him the first person to hold this unified top executive role after a major restructuring of the company’s governance.
Mr. Doraiswamy, a seasoned LIC veteran with over 38 years of experience, takes charge at a transformative time. Previously, LIC was managed by both a chairman and several managing directors, but this changed following a key amendment to the LIC Act in 2021. The amendment introduced ahead of LIC’s 2022 public listing streamlined the leadership structure to a single CEO & MD post, bringing LIC in line with listed peers and modern corporate standards.
With a strong background in operations, marketing, pensions, technology and training, Mr. Doraiswamy has held numerous critical positions across the organisation, most recently overseeing LIC’s Southern Zone as managing director. His appointment follows a thorough selection process steered by the Financial Services Institutions Bureau (FSIB) and final approval by the Union government.
Following a brief interim tenure under Sat Pal Bhanoo, Doraiswamy’s arrival provides much-needed stability, direction, and continuity to LIC’s management as it navigates increasing competition and regulatory scrutiny. He will serve a three-year term or until he turns 62. Market watchers see this as a positive development, setting LIC on a clear path for growth and accountability in the new era of public ownership.
This leadership transition not only marks a historic moment for LIC but also signals its commitment to stronger governance and long-term strategic vision.
