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.
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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