The Financial Services Institutions Bureau (FSIB) has recommended R. Doraiswamy, the current Managing Director of Life Insurance Corporation of India (LIC), for the position of Chief Executive Officer and Managing Director (CEO & MD) at LIC. This recommendation was made after FSIB interviewed four candidates from LIC on June 11, 2025, for the top position. According to FSIB, Doraiswamy’s performance during the interview, his overall experience, and the existing parameters made him the ideal candidate for the role.
Doraiswamy has an impressive background, with 38 years of experience in various fields, including operations, marketing, technology, and academics. He is a graduate in Mathematics from Madurai Kamaraj University. During his tenure, he has been instrumental in implementing several key projects, such as the Employee’s Front End Application Program (eFEAP) Next, centralization of ULIP systems, and automation of repetitive processes. Prior to his current role as Managing Director, Doraiswamy served as Executive Director (Information Technology/Software Development) and headed the southern zonal office in Chennai.
The recommendation for Doraiswamy’s appointment comes after the end of Siddhartha Mohanty’s term as MD and CEO of LIC on June 7. Following Mohanty’s departure, the government appointed Sat Pal Bhanoo as the interim MD and CEO of LIC for a three-month term, effective from June 8 to September 7, 2025. With Doraiswamy’s recommendation, he is likely to take over as the permanent CEO and MD of LIC, subject to the government’s approval. His experience and qualifications make him a strong candidate to lead one of India’s largest insurance companies. The final decision on his appointment is awaited, and it is expected that he will bring his expertise and vision to drive LIC’s growth and success in the future.