The Financial Services Institutions Bureau (FSIB) has announced its recommendation for the position of Managing Director at the Life Insurance Corporation of India (LIC). After interacting with five candidates from LIC on September 30, 2025, the Bureau has selected R. Chander for the role. The decision was based on the candidates’ performance during the interface, as well as their overall experience and relevant parameters.
R. Chander, currently the Chief Investment Officer and Executive Director (Investment Front Office) at LIC, has been chosen for the position of Managing Director. The FSIB statement confirmed that Chander’s recommendation was made after careful consideration of his qualifications and performance.
The LIC currently has four whole-time directors, including R. Doraiswamy, who serves as the Chief Executive Officer and Managing Director. The other Managing Directors are Sat Pal Bhanoo, Dinesh Pant, and Ratnakar Patnaik. The addition of R. Chander as a new Managing Director is expected to strengthen the leadership team at LIC.
The recommendation made by the FSIB is a significant development for LIC, as it prepares to expand its leadership team. The move is likely to have a positive impact on the corporation’s operations and strategic decision-making. With Chander’s experience and expertise in investment management, he is well-positioned to contribute to the growth and success of LIC.
The FSIB’s recommendation is subject to further approval, but it marks an important step in the process of appointing a new Managing Director at LIC. The development is also significant in the context of the Indian insurance industry, as LIC is one of the largest and most prominent players in the market. The appointment of R. Chander as Managing Director is expected to be closely watched by industry observers and stakeholders.
In conclusion, the FSIB’s recommendation of R. Chander as Managing Director at LIC is a notable development that reflects his strong credentials and experience. The move is expected to have a positive impact on the corporation’s leadership team and operations, and is likely to be closely followed by industry observers and stakeholders.