The Life Insurance Corporation (LIC) on Tuesday elevated Tablesh Pandey as the managing director. Presently, LIC has four managing directors.

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His appointment is effective from April 1, 2023. Pandey will replace present managing director BC Patnaik, the company said in a regulatory filing.

"Tablesh Pandey, Executive Director, LIC of India, Central Office, Mumbai, has been appointed as Managing Director, LIC of India vice BC Patnaik with effect from the date of assumption of charge of the office on or after 1st April 2023 and upto the date of his superannuation, or until further orders, whichever is earlier," the company said.

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Also, Siddhartha Mohanty, managing director of the corporation has taken charge of the financial and administrative powers and functions of the chairperson of LIC of India, in the interim.

Mohanty joined LIC in 1985 as an Apprentice Officer and has rich experience in the insurance sector. He holds a Bachelor’s Degree in Law and a Master’s Degree in Arts (Political Science) from Utkal University, Bhubaneswar, Odisha.

He holds a Post Graduate Certification in Business Management from the Xavier Institute of Management, Bhubaneshwar, Odisha, and passed the Licentiate Examination conducted by the Insurance Institute of India in November 2002.

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Mohanty previously served as COO and CEO of LIC Housing Finance Ltd and has held various other positions, such as senior divisional manager of Raipur and Cuttack, chief (Legal), chief (Investment – Monitoring & Accounting), executive director (Legal), amongst others.

During his tenure as chief (Legal), Mumbai, the corporation won the "Best Insurance In-House Legal Team of the Year" at the Legal Era Awards 2013-14.

(Edited by : Pradeep John)