Meet woman who once led Rs 598000 crore govt firm, now works as...; daughter of India's oldest billionaire

Usha Sangwan is an Indian business executive and entrepreneur who once led India's largest insurance company, LIC. Sangwan joined LIC as a Direct Recruit Officer in 1981 and steadily climbed the corporate ladder. In 2013, she became the first-ever woman Managing Director of the government-backed insurer. Currently, the market cap of the company is Rs 5.98 lakh crore, as of June 24.

Daughter of India's oldest billionaire

Sangwan is the daughter of Lachhman Das Mittal, founder of Sonalika Group. At 94, he is India's oldest billionaire with a real-time net worth of USD 7 billion, as per Forbes. Today, his company is India's third-largest tractor maker by market share. He started his business career in 1990 at age 60 after retiring from LIC.

Usha Sangwan career

Sangwan retired from LIC in 2018 after working for over 35 years. She was featured in the Forbes List of 50 Most Powerful Business Women in Asia in 2015. The 67-year-old now works as Director on the boards of various companies such as Tata Motors, Torrent Power, Tata Technologies and more. Sangwan holds a master’s degree in Economics from Panjab University and a Post Graduate Diploma in Human Resource Management from IGNOU. She is a licentiate from the Insurance Institute of India. Born in Punjab, she completed her primary education at Government Model Middle School in Chandigarh.

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