LIC Appoints 5 Independent Directors for a 4-Year Term
Life Insurance Corporation of India (LIC) has appointed five new Independent Directors for a four-year term starting October 07, 2026. The appointees include former senior officials from government and banking sectors, and prominent fintech entrepreneurs. The appointments are subject to member approval.
The appointment of independent directors can enhance corporate governance and strategic oversight, potentially impacting the company's future direction and performance.
The appointment of experienced individuals to the board is generally viewed positively as it can bring valuable expertise and governance to the company.
Life Insurance Corporation of India (LIC) announced the appointment of five new Independent Directors to its Board of Directors. This decision was made based on the recommendations of the Nomination & Remuneration Committee and is subject to the approval of the Members.
The appointments are for a term of four years, commencing from October 07, 2026. The Board of Directors considered and approved these appointments in a meeting held on October 07, 2026.
The newly appointed Independent Directors are: * Shri Shailesh Kumar Singh (DIN: 02061623) * Shri David Paul Rasquinha (DIN: 01172654) * Shri Shyam Srinivasan (DIN: 02274773) * Shri Ganesh Kumar Sundara Iyer (DIN: 07635860) * Shri Gaurav Kumar (DIN: 07767248)
Shri Shailesh Kumar Singh, a retired Indian Administrative Service officer, brings extensive experience in rural development, MSME promotion, and policy formulation. Shri David Paul Rasquinha, former MD & CEO of Exim Bank, has a distinguished career in international finance and cross-border project financing. Shri Shyam Srinivasan, a banking and financial services professional, served as MD & CEO of Federal Bank for over a decade, focusing on strategy and digital initiatives. Shri Ganesh Kumar Sundara Iyer, former Executive Director of the Reserve Bank of India, has deep expertise in central banking, payment systems, and IT. Shri Gaurav Kumar is a serial fintech entrepreneur, founder and CEO of Yubi Group, a unicorn fintech company.
All appointees have confirmed they are not debarred from holding the position of Director by any SEBI order or other authority and are not related to any other Directors of the Corporation. The Board meeting commenced at 03:00 p.m. (IST) on October 07, 2026, and concluded at 03:55 p.m. (IST).
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