FSIB Recommends Ramakrishnan Chander as LIC’s Next Managing Director

The Financial Services Institutions Bureau (FSIB) on Tuesday recommended Ramakrishnan Chander for the post of Managing Director (MD) of the state-owned Life Insurance Corporation of India (LIC).

The final decision on his appointment will be taken by the Appointments Committee of the Cabinet. Chander was earlier appointed as Chief Investment Officer (CIO) in June 2025.

The FSIB said it had interviewed five LIC candidates on September 30, 2025, for the MD post. Based on their performance, experience, and eligibility, the Bureau recommended R. Chander for the position.

LIC’s top leadership includes four MDs along with the MD & CEO. At present, R Doraiswamy is the MD and CEO of LIC. The other three MDs are Dinesh Pant, Ratnakar Patnaik, and Sat Pal Bhanoo.

Chander joined LIC in 1990 as an Assistant Administrative Officer. He holds a Post Graduate Diploma in Financial Management and is a Fellow of the Insurance Institute of India.

Over the years, he has worked as Senior Divisional Manager in Nagpur and Hyderabad, Regional Manager (Marketing) for the South Zone, and Regional Manager (Pension and Group Schemes) for the South Central Zone.

He also served as Executive Director leading LIC’s International Operations and is currently heading the Investment – Front Office of the corporation.