LIC appoints Dinesh Pant and Ratnakar Patnaik as new Managing Directors

Pant and Patnaik take charge as LIC MDs from June 1, bringing decades of insurance expertise to strengthen leadership. Read more on Dynamite News

New Delhi: Life Insurance Corporation (LIC), India's largest life insurance institution, has made a significant change in its management by appointing Dinesh Pant and Ratnakar Patnaik as managing directors (MD) with effect from June 1, 2025.

The Appointments Committee of Cabinet (ACC) has approved their appointment to the post, reports Dynamite News correspondent.

Appointment of Dinesh Pant

Dinesh Pant has been made a managing director of Life Insurance Corporation of India (LIC). He was the Executive Director (Actuarial) and Appointed Actuary at LIC before this appointment. Pant joined LIC in 1989 and has more than three decades of experience to his credit in his new role.

Dinesh Pant, who previously served as a senior officer of LIC, will now take over as the new managing director of the company. Pant has deep experience in the insurance sector and has years of experience in understanding the functions and policies of LIC.

He has implemented many important reforms while holding various key positions in the company.

Appointment of Ratnakar Patnaik

Prior to this appointment, he was Chief Investment Officer and Executive Director at LIC. Patnaik joined LIC as a Direct Recruit Officer in September 1990 and has gained rich experience in different roles, including being in charge of divisions in Indore and Jamshedpur as Senior Divisional Manager and as Regional Manager (Marketing/CLIA) in the Eastern Zone.

His appointment is also being considered important due to Patnaik's deep understanding and his work experience. With his appointment, it is expected that LIC will better understand the needs of its customers and further strengthen its position in the insurance sector.

LIC's future and this transition

LIC is India's biggest life insurance corporation, and it is not just its responsibility to offer insurance services alone. This institution's motive is to offer secure and beneficial insurance policies to millions of people in India. With the addition of Dinesh Pant and Ratnakar Patnaik, it is anticipated that LIC will introduce new and improved insurance policies for people.

In addition to this, both these officers will offer good leadership to make LIC more competitive and efficient in the face of the new changes and challenges in the insurance sector. Their experience and leadership skills will introduce good changes in the work culture of LIC, which will enable the company to continue holding its top position in the insurance sector.

The induction of these two officers will not only enhance the performance of LIC, but it can also herald the dawn of a new era for the Indian insurance industry, wherein greater transparency, improved services, and innovative products will be made available to the customers.