LIC MD Sat Pal Bhanoo takes charge as acting CEO

New Delhi, June 9: Sat Pal Bhanoo, Managing Director of Life Insurance Corporation of India, has been appointed to assume the additional responsibilities of Chief Executive Officer and Managing Director on an interim basis.

According to a Ministry of Finance letter dated June 7, 2025, Bhanoo will exercise the full financial and administrative powers of the CEO and MD position for three months starting June 8, 2025.

The appointment runs until September 7, 2025, or until a regular incumbent takes charge, or until further government orders—whichever comes first. The directive was issued by the Department of Financial Services under the Ministry of Finance.

This interim arrangement ensures continuity in LIC's top leadership during the transition period.