Siddhartha Mohanty Takes the Helm as First CEO of LIC

The Indian government has selected Siddhartha Mohanty as the chairperson of the state-owned Life Insurance Corp of India (LIFI.NS) for a term of two years, as per media sources. 

Following this tenure, Mohanty will take on the roles of CEO and MD until June 2025. Mohanty, who already serves as one of the four managing directors of LIC, had previously been appointed as the chairman for a three-month period in March.

Starting from February 1, 2021, he held the position of MD at LIC and continued to do so until his retirement on June 30, 2023, as per reports. During his tenure as MD, he received a salary within the range of Rs 205,400 to Rs 224,400.

Having joined LIC as a direct recruit officer in 1985, Mohanty has progressed steadily to attain this influential position. In addition to a law degree and a master's in political science, he holds a Licentiate from the Insurance Institute of India and a post-graduate degree in business management, all of which contribute to his impressive credentials.