The Centre on Monday appointed R Doraiswamy as the new Managing Director and Chief Executive Officer of Life Insurance Corporation of India (LIC), the country’s largest insurer. His term will run for three years, ending on August 28, 2028, the day he turns 62.

The Department of Financial Services issued the notification following approval from the Appointments Committee of the Cabinet, headed by the Prime Minister. Doraiswamy’s appointment comes on the recommendation of the Financial Services Institutions Bureau (FSIB), which had proposed his name on June 11.

He succeeds Sat Pal Bhanoo, who was appointed interim MD and CEO from June 8 to September 7, 2025, after the end of Siddhartha Mohanty’s term on June 7.

Doraiswamy brings more than 38 years of experience to the top role, with a diverse background spanning operations, marketing, technology, pensions, and insurance education. 

Before assuming charge as LIC MD and CEO, Doraiswamy held several senior positions within the organisation. He served as Executive Director (Information Technology/Software Development), Regional Manager (Marketing/Chief Life Insurance Advisor), and Regional Manager (Pension & Group Schemes) at LIC’s Southern Zonal Office in Chennai. His previous roles also include Senior Divisional Manager of the Kottayam Division and Marketing Manager for the Chennai-I, Thanjavur, and Pune divisions.

He has also worked as a Research Associate at the National Insurance Academy, Pune, contributing to projects on Micro Insurance, Insurance Law and Regulations, Product Development, and course design for Post Graduate Programmes in Insurance Management and Chartered Financial Planning.

Doraiswamy holds a degree in Mathematics from Madurai Kamaraj University, is a Fellow Member of the Insurance Institute of India, and a student member of the Institute of Actuaries of India.

LIC, which is listed on Indian stock exchanges and operates under the Ministry of Finance, is led by a CEO and MD, supported by four Managing Directors.