The Indian government appointed Siddhartha Mohanty as the state-run Life Insurance Corp of India’s (LIFI.NS) chairman for a two-year term on Friday, according to an official document obtained by Reuters. Post that, he shall be LIC CEO and MD till June 2025.

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One of the four managing directors at LIC, Mohanty, was already appointed chairman in March for a period of three months.

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On February 1, 2021, he was also appointed MD of LIC, serving in that capacity until his retirement on June 30, 2023. He was hired as the MD with a salary between Rs 205,400 and Rs 224,400.

In 1985, Mohanty began his career with the LIC as a direct recruit officer. He has worked his way up to this top position. 

Mohanty has a law degree and is a postgraduate in political science. A Licentiate from the Insurance Institute of India and a post-graduate degree in business management are also among his credentials.