By THE NEWSMAN OF INDIA.COM| LIC The leadership structure of Life Insurance Corporation of India (LIC) has undergone another change following the Central Government’s approval of the premature termination of Dinesh Pant’s appointment as Managing Director. The Department of Financial Services, Ministry of Finance, issued the notification on September 24, 2026, with the decision taking effect from the date of issue. Pant’s exit follows his retirement on a voluntary basis.

Pant assumed charge as LIC Managing Director on June 1, 2025, after serving as Appointed Actuary and Executive Director (Actuarial).

Following his departure, LIC’s senior management comprises R. Doraiswamy as Chief Executive Officer and Managing Director, along with Managing Directors Ratnakar Patnaik and Ramakrishnan Chander. Chander assumed charge as Managing Director on December 1, 2025.

The present arrangement differs from the four-MD structure that existed in 2025, when Sat Pal Bhanoo, Patnaik, Pant and Chander served alongside Doraiswamy. Bhanoo retired in December 2025, while Chander’s appointment followed his recommendation by the Financial Services Institutions Bureau in September 2025. Now LIC has only two MDs and one MD & CEO after Pant’s resignation.

Pant’s voluntary retirement further reshapes LIC’s top management, with responsibilities now concentrated among the three serving senior executives.

Please follow and like us: