Shri Sat Pal Bhanoo, Managing Director of Life Insurance Corporation of India (LIC), will superannuate on December 31, 2025, after office hours. Consequently, he will cease to be a member of various committees, including the Executive Committee, Investment Committee, and Audit Committee. This change is effective based on Government of India Notification dated July 19, 2023.
Managing Director’s Departure
Life Insurance Corporation of India (LIC) announces that Shri Sat Pal Bhanoo, its Managing Director, will be superannuating from his position effective December 31, 2025. His superannuation will occur after the close of office hours on the specified date.
Committee Membership Changes
As a consequence of his superannuation, Shri Sat Pal Bhanoo will cease to be a member of the following committees within the organization:
- Executive Committee
- Investment Committee
- Audit Committee
- Policyholder Protection, Grievance Redressal and Claims Monitoring Committee
- Committee For Election of Shareholders’ Directors in PSBs
- Building Advisory Committee
- ESG (Environment, Social & Governance) Committee
Source: BSE
