Shri Sat Pal Bhanoo Appointed as Acting CEO & MD of LIC – Effective from June 8, 2025

Published on: June 9, 2025
Category: LIC News & Updates

 

📌 New Delhi: Major Leadership Development in LIC

In a significant development in India’s insurance sector, Shri Sat Pal Bhanoo, Managing Director of Life Insurance Corporation of India (LIC), has been entrusted with the financial and administrative powers and functions of the Chief Executive Officer and Managing Director (CEO & MD) of LIC.

This announcement was made as per a letter dated 07 June 2025, issued by the Ministry of Finance, Department of Financial Services, Government of India.

As per the notification, Shri Sat Pal Bhanoo will serve in this elevated role for a period of three months, starting from June 8, 2025, to September 7, 2025, or until a regular incumbent is appointed or further orders are issued — whichever is earlier.

🧑‍💼 Who is Shri Sat Pal Bhanoo?

Shri Sat Pal Bhanoo is a seasoned and respected professional in the life insurance industry, known for his dynamic leadership and people-centric approach. He took charge as Managing Director of LIC on 20 July 2023.

His journey in LIC began as a Special Batch Direct Recruit Officer in October 1988, marking a career of over three decades with the corporation.

🎓 Educational Background

• Bachelor’s Degree in History (Honours) from Himachal Pradesh University, Shimla

🏢 Notable Positions Held in LIC

• Zonal Manager, Central Zone
• Additional Director, Zonal Training Centre, Bhopal
• Regional Manager (P&IR), North Zone, Delhi
• In-charge, Bangalore-I Division
• In-charge, Shimla Division
• Chief (Marketing - SBA), focused on Senior Business Associates & LIC Associates

In every role, Shri Bhanoo promoted a culture of motivation, training, and empowerment, creating a strong, future-ready workforce aligned with LIC’s core values.

🚀 Leadership Style and Personal Traits

• Strong interpersonal skills and commitment to workforce development
• Loves meeting people and sharing experiences for team motivation
• Personal passion for listening to music

📈 What This Means for LIC Stakeholders

This interim appointment comes at a crucial time as LIC continues to evolve in a highly competitive insurance market. With his visionary leadership, Shri Bhanoo is expected to:

• Ensure stability and growth during the transition
• Drive agent-centric and customer-centric strategies
• Advance marketing and digital innovation
• Uphold LIC’s legacy of trust and performance

🔁 What’s Next?

This move reinforces LIC's commitment to stable governance and continuous progress. All LIC agents, policyholders, and stakeholders can be assured that under Shri Bhanoo’s leadership, the Corporation will remain on a path of excellence and service.

📢 Stay tuned with BimaTimes.com for real-time LIC updates, policy news, and agent opportunities like Bima Sakhi Yojana, Jeevan Utsav, and LIC Agent Recruitment Drives.

📣 Let’s Connect

💬 Got questions about LIC policies or career opportunities?
📞 Contact: 💬 Chat on WhatsApp Raj Kumar, Development Officer (LIC of India)
🌐 Visit: www.bimatimes.com