LIC appoints Ramakrishnan Chander as Managing Director

State-run insurer Life Insurance Corporation of India (LIC) announced on Monday that Ramakrishnan Chander will become its Managing Director, effective December 1.

Before becoming Managing Director, Chander served as the Executive Director (Investment – Front Office) and Chief Investment Officer of LIC.

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Ramakrishnan Chander joined LIC in 1990 as an Assistant Administrative Officer. He is a graduate and a Fellow of the Insurance Institute of India, with 35 years of experience in marketing and administration. He has held positions such as Senior Divisional Manager, Regional Manager (Marketing), and Regional Manager (P&GS). He also served as Executive Director, leading LIC’s Strategic Business Unit – International Operations.

Recently, LIC reported a 31% year-on-year rise in its consolidated Q2 net profit, which reached ₹10,098 crore compared to ₹7,728 crore a year ago. Its net premium income for the quarter was ₹1,26,930 crore, up 5.5% from ₹1,20,326 crore in the same quarter last year.

In Q2FY26, LIC’s first-year premium was ₹10,884 crore, up from ₹7,566 crore in Q1FY26 but slightly lower than ₹11,245 crore a year ago. Renewal premiums rose to ₹65,320 crore, compared with ₹60,179 crore in Q1FY26 and ₹62,236 crore in Q2FY25. Single premiums were ₹50,882 crore, down from ₹52,008 crore in Q1FY26 but higher than ₹46,997 crore in Q2FY25.

For H1FY26, LIC’s PAT increased 16% year-on-year to ₹21,040 crore, while total premium income grew 5% to ₹2,45,680 crore. Individual Business Non-Par APE rose 30.47% to ₹6,234 crore, with its share in individual business at 36.31%, up from 26.31% in H1FY25.

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