The Indian government appointed Siddhartha Mohanty as the state-run Life Insurance Corp of India’s (LIFI.NS) chairman for a two-year term on Friday, according to an official document obtained by Reuters. Post that, he shall be LIC CEO and MD till June 2025.
One of the four managing directors at LIC, Mohanty, was already appointed chairman in March for a period of three months.
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On February 1, 2021, he was also appointed MD of LIC, serving in that capacity until his retirement on June 30, 2023. He was hired as the MD with a salary between Rs 205,400 and Rs 224,400.
In 1985, Mohanty began his career with the LIC as a direct recruit officer. He has worked his way up to this top position.
Mohanty has a law degree and is a postgraduate in political science. A Licentiate from the Insurance Institute of India and a post-graduate degree in business management are also among his credentials.