LIC Appoints Dinesh Pant and Ratnakar Patnaik as Managing Directors
The Life Insurance Corporation of India (LIC) has appointed Dinesh Pant and Ratnakar Patnaik as its new Managing Directors. The appointments will take effect from 1 June 2025 and mark a significant step in strengthening LIC’s leadership at a time when the insurance sector in India is undergoing rapid transformation.
Dinesh Pant currently serves as LIC’s Appointed Actuary and Executive Director (Actuarial). Known for his deep expertise in actuarial science and risk management, Pant brings a sharp analytical lens to the top management. His appointment reflects LIC’s focus on data-led decision-making, product innovation, and regulatory alignment in a fast-evolving market. With years of experience behind him, Pant is expected to play a central role in shaping LIC’s future offerings and strengthening its risk management framework.
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Joining him in the leadership team is Ratnakar Patnaik, who has been leading LIC’s investment operations as Executive Director (Investment – Front Office) and Chief Investment Officer. Patnaik began his journey with LIC as a Direct Recruit Officer in 1990 and has since worked across several roles in marketing and investment across four zones. With over 30 years of experience, he brings strong insights into LIC’s investment strategy and asset management. His appointment comes at a time when navigating financial market volatility and identifying new growth opportunities are top priorities.
Both Pant and Patnaik will serve as Managing Directors until their retirement, which is due on 31 March 2028.
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These leadership changes come at a critical juncture for LIC, which is adapting to new regulatory norms, embracing digital transformation, and facing stiff competition from private and global insurers. The combined strengths of Pant and Patnaik are expected to add depth to LIC’s strategic direction and help reinforce its leadership in the Indian insurance space.
Disclaimer: This post is for general informational purposes only. It does not constitute financial advice. Please consult a qualified professional before making financial decisions.
