Life Insurance Corporation Of India has informed the Exchange regarding 'appointment of Shri Ratnakar Patnaik as Managing Director vide Central Government Notification'.
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LIC has informed the stock exchanges that Shri Ratnakar Patnaik has been appointed as Managing Director of the Corporation, pursuant to a Central Government Notification dated May 14, 2025. Patnaik is currently serving as Executive Director (Investment – Front Office) and Chief Investment Officer at LIC, making this an internal promotion. He will assume charge on or after June 01, 2025, and will hold the MD position until his superannuation on March 31, 2028, or until further orders, whichever is earlier. As LIC is a public sector insurer, the appointment is made by the Government of India.
This is a routine top-level leadership appointment at LIC, with an internal candidate elevated to the MD role. It provides continuity in investment leadership and is unlikely to cause any disruption for shareholders.