Centre appoints Ramakrishnan Chander as LIC managing director

The central government has appointed Ramakrishnan Chander as managing director of Life Insurance Corporation of India, with effect from December 1. Chander, who was serving as executive director and chief financial officer of LIC, will hold the post until his superannuation on September 30, 2027, according to an exchange filing by the insurer.

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Centre appoints Ramakrishnan Chander as LIC managing director

LIC currently has four managing directors in addition to its managing director and chief executive officer, R Doraiswamy. The other managing directors are Sat Pal Bhanoo, Ratnakar Patnaik and Dinesh Pant, with Bhanoo's tenure scheduled to conclude in January 2026. Chander joined LIC in 1990 as an assistant administrative officer and brings over three decades of experience across finance and operations. He is a graduate and a Fellow of the Insurance Institute of India.

The appointment comes amid broader reforms in leadership norms at public sector financial institutions. Recently, the government decided to allow one managing director position at LIC to be filled by a private-sector professional, a move similar to reforms undertaken at State Bank of India. Industry experts see this step as strengthening governance, widening the talent pool and aligning LIC's leadership structure with evolving market dynamics.

Insurers' premium growth crosses 20% in November on GST relief

India's insurance sector recorded a sharp rebound in November, with both life and non-life segments posting over 20 per cent year-on-year premium growth for the first time in FY26. The expansion was supported by the reduction of GST on insurance premiums from 18 per cent to zero and a favourable base effect. Life insurers reported nearly 23 per cent growth in new business premium, reaching Rs.31,119.6 crore, while non-life insurers registered a 24.17 per cent rise to Rs.26,897.4 crore during the month.