Sat Pal Bhanoo Takes Interim Charge As LIC CEO & MD For Three Months

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The Life Insurance Corporation of India has appointed Managing Director Sat Pal Bhanoo as interim Chief Executive Officer and Managing Director for a three-month period, effective from June 8 to September 7, 2025. The decision follows the completion of Siddhartha Mohanty’s tenure as CEO & MD, with Bhanoo entrusted with financial and administrative powers until a permanent successor is named.

Key Highlights

- The appointment was confirmed through a notification from the Ministry of Finance’s Department of Financial Services
- Bhanoo will hold interim charge until September 7, 2025, or until a regular incumbent assumes office, whichever is earlier
- The transition comes as LIC undergoes leadership restructuring, with recent appointments of new managing directors

Leadership Background And Experience

- Bhanoo has over 30 years of experience in LIC, having served in key roles such as Zonal Manager for the Central Zone in Bhopal
- His previous positions include Senior Divisional Manager for Bangalore-I and Shimla, Regional Manager for Micro Insurance, and Chief of Marketing at LIC’s Central Office in Mumbai
- He holds a bachelor’s degree in history from Himachal Pradesh University, Shimla

Industry Perspective

LIC’s leadership transition reflects the evolving dynamics of India’s insurance sector, with Bhanoo’s interim tenure expected to ensure continuity in operations. As the corporation navigates regulatory changes and market expansion, stakeholders are closely monitoring the appointment of a permanent CEO & MD.

Sources: The Hindu BusinessLine, Business Standard, UNI India.