New Delhi | The government on Monday appointed R Doraiswamy as head of state-owned insurance behemoth Life Insurance Corporation of India (LIC).

The notification in this regard was issued by the Department of Financial Services following approval from the Appointments Committee of the Cabinet, headed by the Prime Minister.

The Centre has appointed Doraiswamy as MD & CEO of the state-owned insurance company for a period of three years, the notification said.

His three-year term would end on August 28, 2028, when he attains 62 years of age.

The Financial Services Institutions Bureau (FSIB) on June 11 had recommended his name for the position.

Following the end of Siddhartha Mohanty's term on June 7, 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.

LIC has four managing directors besides the CEO and MD, who heads the life insurance giant.