LIC Share Price: India’s largest insurance company has come up with Life Insurance Corporation of India (LIC). According to the report, Life Insurance Corporation of India is now preparing to enter the health insurance sector.
LIC CEO Siddhartha Mahanthy told CNBC-TV18 in an exclusive interview that the company is working rapidly in this direction and the process of acquiring a health insurance company is in its final stages.
There will be a big announcement before 31 March
According to the news, Mahanthy said that LIC aims to announce this acquisition before March 31. However, he also clarified that LIC will not hold a majority stake in the health insurance company it will acquire.
Recruitment of new Chief Risk Officer
According to the exchange filing, the Board of Directors of Life Insurance Corporation has approved the recruitment of the new Chief Risk Officer of the company. Shatmanyu Srivastava will take over the post of Chief Risk Officer from March 19, 2025.
Shatmanyu joined LIC in 1990 as a Direct Recruitment Officer in the 18th batch. In his career spanning over 30 years, he has worked at all four levels of LIC’s organisational structure—branch office, divisional office, zonal office and central office.
In May 2022, he took over as Chief (Finance & Accounting), Central Office and led the closing of the company’s accounts for the first time after LIC’s IPO. He has experience in various compliance requirements under SEBI (LODR) Regulations and IRDAI Regulations.
LIC will also do health insurance, CEO said, will give big news within two weeks
