File photo of Siddharth Mohanty, who has been appointed as the chairman of Life Insurance Corporation.
The central government on Friday appointed Siddhartha Mohanty as the chairman of the Life Insurance Corporation of India for two years, according to an official document accessed by TOI. reuters,
Mr. Mohanty, who is one of the four Managing Directors of LIC, was already named interim president in March for three months.
With outgoing chairman MR Kumar completing his term on March 13, he was entrusted with financial and administrative powers and functions of chairman in addition to his own duties, LIC informed the stock exchange, citing Union Finance Ministry communication. .
Mr Mohanty who was already the Managing Director and Chief Executive Officer (CEO) of LIC Housing Finance was earlier the Chief Operating Officer of the insurance giant. He started his career with LIC in 1985 as a direct recruit officer before rising through the ranks.
(with inputs from Reuters)