The government has appointed R Doraiswamy as the new Managing Director and Chief Executive Officer of Life Insurance Corporation of India (LIC), the state-run insurance giant.A notification issued by the Department of Financial Services on Monday confirmed the appointment, following the approval of the Appointments Committee of the Cabinet chaired by the Prime Minister, PTI reported.Doraiswamy’s tenure will run for three years, ending on August 28, 2028, when he reaches the age of 62, as per the terms outlined in the notification. His selection was recommended earlier by the Financial Services Institutions Bureau (FSIB) on June 11.He steps into the role after the term of former CEO Siddhartha Mohanty ended on June 7. In the interim, the government had appointed Sat Pal Bhanoo as MD and CEO for a three-month term from June 8 to September 7, 2025.Who is R Doraiswamy?With over 38 years of diverse experience at LIC, Doraiswamy brings a rich background in operations, marketing, technology, and insurance academics.Before his elevation as MD and CEO, Doraiswamy served in several leadership roles within the corporation, including Executive Director (Information Technology and Software Development), Regional Manager (Marketing and Chief Life Insurance Advisor), and Regional Manager for the Pension & Group Schemes department at the Southern Zonal Office in Chennai. He has also served as Senior Divisional Manager of the Kottayam Division and Marketing Manager in the Chennai-I, Thanjavur, and Pune divisions, according to LIC website.Doraiswamy has an academic background in insurance as well. As a Research Associate at the National Insurance Academy in Pune, he worked on projects related to microinsurance, insurance law and regulation, product development, and academic content for insurance management and financial planning programmes.He holds a degree in Mathematics from Madurai Kamaraj University and is a Fellow of the Insurance Institute of India. He is also a student member of the Institute of Actuaries of India.LIC, India’s largest life insurer, is currently headed by a CEO and MD and supported by four other managing directors.
