Dinesh Pant and Ratnakar Patnaik have been appointed as Managing Director in Life Insurance Corp, according to a release by the Bureau of Financial Services Institutions on Thursday.
LIC is starred by Siddharth Mohanty, who currently serves as the Chief Executive Officer and Managing Director.
The consolidated net profit of the country’s largest insurer increased by 16% to Rs 11,008.7 crore in the third quarter of the current financial year. Pure premium income fell by 8.62% to Rs 1.07 lakh crore and increased from Rs 1.17 lakh crore to Rs 1.07 lakh crore in the year ago.
Earlier this week, LIC launched a new smart pension scheme. The plan is a non-appearance, non-linked savings and immediate annuity scheme. This annuity allows entry from 18 to 100 years, depending on the option. The scheme offers a series of annuity options for both single life and joint life annuity.
LIC shares on BSE closed at Rs 1.83% more at Rs 777.90, while the benchmark sense fell by 0.27%.
Read more on business by NDTV benefits. (Tagstotransite) Life Insurance Corporation of India
