LIC gives additional charge of MD & CEO to Sat Pal Bhanoo

Life Insurance Corporation of India (LIC) has entrusted Sat Pal Bhanoo with the additional charge of Managing Director and Chief Executive Officer, following approval from the Department of Financial Services, Ministry of Finance.

In a regulatory filing, LIC stated: “The Department of Financial Services, Ministry of Finance, vide its letter dated June 7, 2025, conveyed the approval of the competent authority, entrusting the financial and administrative powers and functions of the CEO and MD of the Corporation, for a period of three months with effect from June 8, 2025, that is up to September 7, 2025, or till assumption of charge of the post by the regular incumbent.”

Bhanoo brings with him more than 30 years of extensive experience in the insurance sector. Before this appointment, he was serving as the Zonal Manager of LIC’s Central Zone, Bhopal. Over the years, he has held several senior leadership roles within the Corporation, including Senior Divisional Manager at Bangalore-I and Shimla, Regional Manager (Micro Insurance), Regional Manager (Corporate Communications), Regional Manager (Personnel & Industrial Relations) in Northern Zone, New Delhi, and Additional Director at LIC’s Zonal Training Centre in Bhopal. He also served as Chief (Marketing / Senior Business Associate) at LIC’s Central Office in Mumbai.

Bhanoo holds a Bachelor’s degree in History (Honors) from Himachal Pradesh University, Shimla. His appointment is expected to bring stability and strategic direction during the interim period.