State-owned Life Insurance Corporation of India (LIC) has appointed Shatmanyu Shrivastava as its new Chief Financial Officer (CFO). He replaces Sunil Agrawal, who resigned last month after serving as LIC’s finance chief for more than four years. The appointment was approved by LIC’s Board of Directors during its meeting held on July 28, based on the recommendation of the Nomination and Remuneration Committee.
Over Three Decades of Experience at LIC
Shatmanyu Shrivastava joined LIC in 1990 as an Assistant Administrative Officer and has more than 35 years of experience with the organisation. During his career, he has worked at the branch, divisional, zonal and central office levels, giving him wide experience in LIC’s operations and financial management.
Since 2022, he has served as Chief (Finance & Accounts) at LIC’s Central Office, where he played an important role in preparing the company’s first financial statements after its Initial Public Offering (IPO). He has also handled compliance with SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations and Insurance Regulatory and Development Authority of India (IRDAI) regulations.
Sunil Agrawal Resigned After Four Years
Shrivastava succeeds Sunil Agrawal, who resigned in June to pursue better career opportunities. Agrawal officially stepped down as LIC’s CFO and Key Managerial Personnel at the close of business on July 14.
Agrawal joined LIC in March 2022 on a contractual basis and became the company’s first major lateral appointment as CFO ahead of its historic stock market listing. Before joining LIC, he served as Chief Financial Officer at Reliance Nippon Life Insurance for more than 12 years and also held senior finance positions at ICICI Prudential Life Insurance.
