Companies

Hemant Bhargava appointed LIC’s Acting Chairman

Our Bureau New Delhi | Updated on January 01, 2019

The Central Government has initiated the process to select regular chairman and managing director of LIC.

Bhargava was instrumental in completing the design and setting up a separate microinsurance vertical

The government has appointed Hemant Bhargava, Managing Director, Life Insurance Corporation of India, as the Acting Chairman.

The move comes after VK Sharma retired from the top job at LIC on December 31. Sources said the Department of Financial Services issued the order on Tuesday.

Bhargava, the senior-most MD at LIC, is also being seen as a strong contender for the post of Full-Time Chairman at  the state-owned life insurer.

While traditionally the senior-most MD is appointed chairman, Bhargava is due to retire in July 2019.

The Banks Board Bureau has called eight candidates for interviews for the posts of Chairman and  MD on January 4.

Meanwhile, in a regulatory filing on Tuesday, LIC Housing Finance said that Sharma has resigned as Chairman of the company from December 31, 2018, after superannuation from the services of LIC.

Published on January 01, 2019

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