Govt appoints Sat Pal Bhanoo as MD of LIC

Sat Pal Bhanoo appointed MD of LIC: The government has announced the appointment of Sat Pal Bhanoo as one of the managing directors of Life Insurance Corporation (LIC). He will take over as the LIC MD in place of Siddhartha Mohanty, who was appointed as the chairman of LIC in April.

In the exchange filing, LIC said, "Shri Sat pal Bhanoo, Additional Zonal Manager (In-Charge) Zonal Office, LIC of India, Bhopal, has been appointed as Managing Director, LIC of India vice Shri Siddhartha Mohanty (presently serving as Chairperson) with effect from the date of assumption of charge of Office and upto the date of his superannuation (i.e.31.12.2025), or until further orders, whichever is earlier." 

Bhanoo's appointment is effective from the date of assumption of charge and up to the date of his superannuation on December 31, 2025 or until further orders, whichever is earlier, LIC said in the regulatory filing.