Sunil Agrawal has been appointed as the Chief Financial Officer (CFO) of the Life Insurance Corporation (LIC) on contractual basis.
Prior to this, he was serving as the CFO of Reliance Nippon Life Insurance for over 12 years. Central government is counting on LIC’s IPO to help bridge the gaping budget deficit by the end of this month and hopes to raise about Rs 65,000 crore ($8.6 billion) by diluting 5% stake in the insurer.
