State-run insurer Life Insurance Corporation of India (LIC) announced on Monday that Ramakrishnan Chander has been appointed as its new Managing Director, effective December 1.
Before this role, Chander served as LIC’s Executive Director (Investment – Front Office) and also held the position of Chief Investment Officer.
Ramakrishnan Chander joined LIC in 1990 as an Assistant Administrative Officer. Over the past 35 years, he has built extensive experience in marketing and administration. He is a graduate and a Fellow of the Insurance Institute of India.
Throughout his career, Chander has held several key positions, including Senior Divisional Manager, Regional Manager (Marketing), and Regional Manager (P&GS). He also served as Executive Director overseeing LIC’s Strategic Business Unit for International Operations.
LIC recently posted a 31% year-on-year increase in its consolidated Q2 net profit, reaching ₹10,098 crore compared to ₹7,728 crore in the same quarter last year. The insurer’s net premium income also rose 5.5% to ₹1,26,930 crore.
In Q2FY26, LIC recorded a first-year premium of ₹10,884 crore—higher than ₹7,566 crore in Q1FY26 but slightly lower than the ₹11,245 crore reported in Q2FY25. Renewal premiums increased to ₹65,320 crore, up from both Q1FY26 and last year’s Q2. Single premiums reached ₹50,882 crore, slightly lower than Q1FY26 but above Q2FY25 levels.
For the first half of FY26, LIC’s profit after tax rose 16% year-on-year to ₹21,040 crore. Total premium income for H1FY26 also grew 5% to ₹2,45,680 crore.
Individual Business Non-Par Annual Premium Equivalent (APE) saw a strong 30.47% rise to ₹6,234 crore. Its contribution to LIC’s individual business increased to 36.31%, up from 26.31% in H1FY25.
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