By THE NEWSMAN OF INDIA.COM| A vacancy has arisen at the senior management level of Life Insurance Corporation of India (LIC) following the superannuation of Sat Pal Bhanoo, Managing Director, who retired on December 31, 2025. With his retirement, one post of Managing Director at the country’s largest life insurer has fallen vacant.

At present, the LIC Board is led by R. Doraiswamy, who serves as the Chief Executive Officer and Managing Director (CEO & MD). The corporation currently has three Managing Directors on its board—Dinesh Pant, Ratnakar Patnaik and Ramakrishnan Chander.

The vacancy comes at a time when LIC continues to play a critical role in India’s financial and insurance sector, managing a vast portfolio of policies and investments. The appointment of a new Managing Director is expected to be taken up by the competent authority in due course to ensure continuity in leadership and effective governance.

Industry observers note that strengthening the top management team remains important as LIC navigates market competition, regulatory requirements and its long-term growth strategy following its public listing.