Mumbai: V.K. Sharma, a managing director of Life Insurance Corporation of India (LIC), will take additional charge as chairman, the state-run insurer said Friday. Sharma, who joined LIC in 1981 as a direct recruit officer, takes over from the incumbent S.K. Roy, who resigned.
On 22 June, Roy requested the government to accept his resignation, even though he had two years left to complete his tenure.
Before becoming managing director, Sharma was chief executive officer for LIC’s housing finance subsidiary.
Earlier, he served as zonal manager managing the southern region and then as an executive director for the insurer.
LIC, India’s largest life insurance company, currently has assets worth about Rs21 trillion and manages at least 300 million policies. Its chairman is appointed by the cabinet committee of the economic affairs.