Ratnakar Patnaik appointed as new Chief Investment Officer of LIC
Ratnakar Patnaik appointed as new Chief Investment Officer of LIC: Ratnakar Patnaik has been named as the new Chief Investment Officer at Life Insurance Corporation (LIC), succeeding PR Mishra, who stepped down on April 10. Additionally, PC Paikray has been named the new Chief Risk Officer, taking over from Tablesh Pandey on the same date. Patnaik, who has 32 years of experience in the industry, began his career at LIC as a Direct Recruit Officer in September 1990. This information was disclosed in a filing by the insurer.
April 2023 Current Affairs Quiz
Ratnakar Patnaik, who assumed the role of Chief Investment Officer on April 10, has extensive experience in marketing assignments, having worked in four different zones. He served as Senior Divisional Manager for the Indore and Jamshedpur divisions, and spent three years as Regional Manager in the Eastern zone. Patnaik rose through the ranks to become the central office’s Chief of Investment – Front Office. He has a bachelor’s degree in physics and is a member of the Insurance Institute of India. These specifics were revealed in a LIC filing announcing his appointment.
About the Life Insurance Corporation of India (LIC)
Life Insurance Corporation of India (LIC) is a state-owned insurance and investment company headquartered in Mumbai, India. It was founded in 1956 and is currently the largest insurance company in India in terms of market share. The company offers a range of life insurance products, including term insurance, endowment policies, pension plans, and unit-linked insurance plans (ULIPs), among others. LIC also invests in various sectors, including infrastructure, real estate, and equity markets, and is considered one of the largest institutional investors in India. The organisation has a large network of branches and agents throughout India and is well-known for its loyal customer base and financial stability.
Important takeaways for all competitive exams:
- Life Insurance Corporation Founded: 1 September 1956;
- Life Insurance Corporation Headquarters: Mumbai;
- Chairperson of Life Insurance Corporation: Mangalam Ramasubramanian Kumar