Life Insurance Corporation of India (LIC) has announced a change in its board leadership. Effective May 13, 2026, Shri Sanjay Lohiya has been appointed as the new Government Nominee Director. He succeeds Ms. Shalini Pandit, who ceases her role on the Board and its associated committees, including the Audit and Risk Management Committees, as of the same date.
Board Composition Update
Following a notification from the Government of India, Life Insurance Corporation of India has inducted Shri Sanjay Lohiya as its latest Government Nominee Director. A seasoned 1994 batch IAS officer (Assam-Meghalaya cadre), Shri Lohiya currently serves as the Special Secretary within the Ministry of Finance’s Department of Financial Services.
Professional Background
Shri Lohiya brings extensive administrative experience to the board. His prior tenure includes serving as the Additional Secretary in the Ministry of Mines, where he spearheaded significant reforms to enhance exploration coverage and promote the ease of doing business. His diverse career history includes leadership positions such as Principal Secretary to the Chief Minister of Assam, Joint Secretary in the Ministry of Agriculture, and a stint as the Chairman-cum-Managing Director of NALCO from late 2024 to early 2025.
Committee Changes
The appointment follows the departure of Ms. Shalini Pandit. Consequently, Ms. Pandit has stepped down from her responsibilities across several key board-level committees, including the Executive Committee, Nomination & Remuneration Committee, Audit Committee, and the Risk Management Committee, effective May 13, 2026.
Source: BSE
