Centre names LIC investment chief Ramakrishnan Chander as MD

Life Insurance Corporation of India has appointed Ramakrishnan Chander as its new managing director, a leadership change that took effect on 1 December. The state-owned insurer announced the move in a regulatory filing on Monday, noting that Chander will serve until his superannuation on 30 September 2027 or until further orders.

Chander previously served as executive director for investment (front office) and as chief investment officer. LIC said he relinquished those responsibilities upon assuming the managing director’s role. His career at the corporation spans 35 years, beginning in 1990 as an assistant administrative officer and progressing through senior positions in marketing, administration and group schemes. He has also overseen the insurer’s international operations as executive director. Chander is a Fellow of the Insurance Institute of India.

The appointment comes on the back of strong quarterly results for India’s largest insurer. LIC last month reported consolidated net profit of ₹10,098 crore for the July–September period of the current financial year, a 31% increase from the same quarter a year earlier. Net premium income rose 5.4% year on year to ₹1,26,930 crore, supported by gains across renewal and group policies.

The company’s first-year premium collections reached ₹10,884 crore in the second quarter, up from ₹7,566 crore in the first quarter, though slightly below the ₹11,245 crore reported a year earlier. Renewal premiums rose to ₹65,320 crore, while single-premium income stood at ₹50,882 crore, lower than the preceding quarter but higher than the year-ago period. Net investment income for the quarter totalled ₹1,12,528.25 crore. LIC’s solvency ratio remained stable at 2.13, compared with 1.98 a year earlier.

Chander’s elevation signals continuity in LIC’s senior management as the insurer navigates shifts in its product mix, investment strategy and market competition. His tenure is expected to coincide with efforts to deepen digital distribution, optimise investment returns and maintain financial resilience in a slowing macroeconomic environment.