M.R. Kumar named as the new chairman of LIC

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The Government appointed M. R. Kumar as the Chairman of the Life Insurance Corporation (LIC) for a period of 5 years. He was the Zonal Manager (In-Charge) of North Zone, Delhi prior to this appointment. He will be succeeding V. K Sharma who had retired on 31st December 2018 after which Managing Director Hemant Bhargava was acting as the interim chairman.

Kumar will hold the Chairman post for five years, according to a Personnel Ministry order.Prior to this elevation, Kumar was Zonal Manager (In-Charge) of North Zone, Delhi. The Centre has also appointed Vipin Anand and TC Suseel Kumar as the Managing Directors of LIC for five years. While Suseel Kumar is Zonal Manager (In-Charge) for South Central Zone, Anand is the Zonal Manager (In-Charge) for Western Zone.

Life Insurance Corporation of India (LIC) is an Indian state-owned insurance group and investment companyheadquartered in Mumbai. The Life Insurance Corporation of India was founded in 1956 when the Parliament of India passed the Life Insurance of India Act that nationalised the private insurance industry in India. Over 245 insurance companies and provident societies were merged to create the state owned Life Insurance Corporation.