LIC gets a new Managing Director

Sushobhan Sarkar has been elevated as Managing Director in the Life Insurance Corporation of India. The order to this effect was issued on February 17. Earlier Sarkar had headed LIC Mutual Fund. Prior to taking over charge as CEO of LIC Mutual Fund, he was executive director in charge of investment department at LIC.


However, the government has still not been succesful in filling up the chairman’s post at the country’s largest financial institution-Life Insurance Corporation of India.


The post of Managing Director had also been lying vacant after A K Dasgupta retired on January 31, 2012. LIC, which manages a corpus of over Rs 12 lakh crore, has three managing directors including Thomas Mathew and T S Vijayan. Vijayan, the former chairman of the corporation, is on leave since his term got over in May.


Sushobhan Sarker is a direct recruit at LIC of the 1977 batch.