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.