The Ministry of Finance, Department of Financial Services, has appointed R. Doraiswamy as the new Chief Executive Officer and Managing Director of the Life Insurance Corporation of India (LIC), according to an official notification issued today.
Doraiswamy takes over the top role at LIC as the public sector giant continues to navigate a changing insurance landscape and digital transformation efforts. His appointment follows the tenure of Siddhartha Mohanty, who served as LIC’s CEO and MD until the end of June 2025.
Mohanty had taken charge as full-time CEO in April 2023 after serving as one of LIC’s managing directors. His tenure focused on improving LIC’s digital operations, enhancing investor engagement post-IPO, and maintaining LIC’s dominant market share amid growing private sector competition.
Doraiswamy now steps into the leadership role at a time when LIC is expected to deepen its footprint in digital insurance services and expand its global operations. Further details regarding his vision or priorities are yet to be officially shared.
The appointment was formalized through a government notification dated July 14, 2025.
