Life Insurance Corporation of India.
| Photo Credit: REUTERS

The Centre has approved the appointment of Life Insurance Corporation of India (LIC) executive directors Ratnakar Patnaik and Dinesh Pant as Managing Directors of the State-owned insurer with effect from their date of assumption of charge of on or after June 1.

Mr. Pant, who is the appointed Actuary and Executive Director (Actuarial), will serve as the MD till his superannuation on May 31, 2027 or until further orders, whichever is earlier, the government said in a notification.

Mr. Patnaik, who he is the Executive Director (Investment – Front Office) and Chief Investment Officer, will be the MD till his superannuation on March 31, 2028 or until further orders, whichever is earlier, the government said in another notification.