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December 15, 2016

VK Sharma Appointed as the Chairman of LIC

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The government has appointed V K Sharma, the acting chief of Life Insurance Corporation of India (LIC), as the new Chairman and Managing Director of the nation's biggest insurer and investor. He will be in this position for five years. 

Sharma is going to replace SK Roy who quit a few months ago following a departmental inquiry set up to probe alleged misconduct in relation to investments by the insurer.

Having joined the LIC as a direct recruit officer in 1981, Sharma has been serving as the managing director of the company since November 2013. He also served as the chief executive of its mortgage subsidiary LIC Housing Finance and zonal manager in charge of the south zone. 

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