On Friday, the Indian government designated Siddhartha Mohanty as the chairman of the state-owned Life Insurance Corporation of India, and he will hold the position until June of the following year.
According to an official document obtained by Reuters, on Friday, the Indian government appointed Siddhartha Mohanty as the chairman of the state-owned Life Insurance Corporation of India (LICI.NS) for a two-year term. After that, he will serve as the CEO and MD of LIC until June 2025.
Mohanty, one of the four managing directors at LIC, had previously been appointed as chairman for a three-month term in March.
He was appointed as the MD of LIC on February 1, 2021, and served in that role until his retirement on June 30, 2023. His salary as MD was between Rs 205,400 and Rs 224,400 when he was hired.
Mohanty started his career with LIC in 1985 as a direct recruit officer and has worked his way up to reach this top position.
Mohanty holds a law degree and a postgraduate degree in political science, in addition to being a Licentiate from the Insurance Institute of India and holding a postgraduate degree in business management.