LIC Appoints Varadarajan Muthuvenkataraman as Chief Risk Officer and Shatmanyu Shrivastava as CFO
Life Insurance Corporation of India appointed Varadarajan Muthuvenkataraman as Chief Risk Officer and Shatmanyu Shrivastava as Chief Financial Officer. Both appointments are effective July 28, 2026. The Board of Directors approved these changes during a meeting held on the same date.
Key managerial appointments, especially to roles like Chief Risk Officer and CFO, can have a significant impact on the company's strategic direction, risk management, and financial operations.
The announcement pertains to routine management changes within the company and does not inherently suggest a positive or negative financial or operational impact.
Life Insurance Corporation of India (LIC) announced key appointments to its management team following a Board of Directors meeting held on July 28, 2026. The meeting, which commenced at 11:15 a.m. IST and concluded at 13:25 p.m. IST, saw the approval of these changes based on the recommendations of the Nomination & Remuneration Committee.
Shri Varadarajan Muthuvenkataraman, formerly Executive Director (Enterprise Risk Management), has been appointed as the Chief Risk Officer. He will now hold the dual designation of Executive Director (Enterprise Risk Management) & Chief Risk Officer, effective July 28, 2026. Mr. Muthuvenkataraman joined LIC in 1992 and possesses over three decades of experience across administrative and marketing functions. He is a Fellow of the Insurance Institute of India and has completed a Post Graduate Executive Programme from IIM Ahmedabad.
Shri Shatmanyu Shrivastava, who was the Executive Director (Finance & Accounts), has been appointed as the Chief Financial Officer. A Fellow member of the Institute of Chartered Accountants of India and the Insurance Institute of India, Mr. Shrivastava joined LIC in 1990. He has extensive experience across various departments and tiers of the organization, including steering the corporation's first accounts closing post-IPO. He has also been actively involved in ensuring compliance with SEBI (LODR) and IRDAI regulations.
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Life Insurance Corporation Of India filed this with the NSE as a statutory disclosure, categorised under key management changes. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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