In a press release, it was announced that M Jagannath has been appointed as the Managing Director of the Life Corporation of India (LIC) following a notification by the Government of India (F. NO. A-11011/11/2022-Ins.I dated 13th March 2023). M Jagannath assumed the position on March 13 and will serve in this role until his superannuation or until further orders, whichever comes earlier. The appointment comes after Shri Raj Kumar's departure from the position.
LIC stands for Life Insurance Corporation of India. It is a state-owned
insurance group and investment company headquartered in Mumbai, India.
LIC is the largest insurance company in India, with a significant market
share in life insurance, pensions, and mutual funds. It was founded in
1956 and has since become a trusted brand in the Indian insurance
industry, known for providing various life insurance policies and
investment products to individuals and groups.