LIC Appoints Sat Pal Bhanoo As Interim CEO & MD As Siddhartha Mohanty Retires

Sat Pal Bhanoo has been appointed as the interim Chief Executive Officer & Managing Director (CEO & MD) of Life Insurance Corporation of India (LIC) effective June 8, 2025.

Siddhartha Mohanty, Chairman and Non-Executive (Nominee) Director, retires from the Board of LIC Housing Finance Limited effective June 7, 2025.

Bhanoo joined LIC as a Special Batch Direct Recruit Officer in October 1988. Over the years, he has served in various roles, including Zonal Manager (Central Zone), Additional Director at the Zonal Training Centre in Bhopal, and Regional Manager (P&IR) in the North Zone (Delhi). He was also in charge of the Bangalore-I and Shimla Divisions. In each role, he contributed to business growth and focused on human resource development. As Chief (Marketing–SBA), he managed the marketing portfolio for Senior Business Associates and LIC Associates, working to improve marketing efforts and strengthen the distribution network. Bhanoo holds a bachelor’s degree in history (honours) from Himachal Pradesh University, Shimla.