HomeNewsAppoinment/ResignsCentre extends LIC Chairman M R Kumar’s term till March 13, 2022

Centre extends LIC Chairman M R Kumar’s term till March 13, 2022

Centre extends LIC Chairman M R Kumar’s term till March 13, 2022

The appointments committee of the Cabinet (ACC) has given its approval to extend the tenure of MR Kumar as the Chairman of state-owned insurance company Life Insurance Corporation of India (LIC).

  • Prior to this, he was supposed to end on 30th June 2021 as LIC chairman. but, now, MR Kumar will continue serving as LIC chairman till March 13, 2022.

Highlights:

LIC is India’s 2nd-largest financial services institution with Rs 31 lakh crore after State Bank of India (Rs 39.51 lakh crore Worth assets). LIC has collected Rs 57,958 crore first-year premium and Rs 1,20,317 crore single premium in FY20. LIC has generated net revenues of Rs 6.15 lakh crore.

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