Key Decision

The Board of Directors, at its meeting held on November 4, 2026, approved the re-appointment of Mr. Mangalam Ramasubramanian Kumar (DIN: 03628755) as Non-executive and Independent Director of the Company. This approval is based on the recommendation of the Nomination and Remuneration Committee and is subject to shareholder approval through postal ballot.

Appointment Details

  • Effective Date: April 1, 2027
  • Term: Second term of five years
  • Reason for Re-appointment: Completion of first term on March 31, 2027
  • Nature of Directorship: Non-executive and Independent Director
  • Retirement: Not liable to retire by rotation
  • Approval Required: Special resolution by members

Remuneration

Mr. Kumar will be entitled to receive sitting fees for attending Board and committee meetings of the Company, in addition to commission.

Director Profile

Mr. Mangalam Ramasubramanian Kumar is a Science graduate from the University of Madras. He served as Chairman of LIC of India from March 2019 to March 2023, having joined the organization in 1983 as a Direct Recruit Officer. During his career spanning over three and a half decades, he headed three zones of LIC (Southern Zone, North Central Zone, and Northern Zone) and served as Executive Director heading the Personnel Department and Pension & Group Insurance vertical.

Current and Past Directorships

Current:

  • Director, Cholamandalam Investment and Finance Company Limited
  • Director, Aurobindo Pharma Usa Inc.
  • Non-executive Chairman, Bank of India

Past (as Non-executive Chairman):

  • LIC Housing Finance Ltd.
  • LIC Pension Fund Ltd
  • LIC Mutual Fund AMC Ltd.
  • LIC Cards Services Ltd.
  • IDBI Bank
  • LIC Singapore Pte. Ltd.
  • LIC Lanka Ltd.
  • LIC (International) BSC, Bahrain
  • LIC Nepal Ltd.

Other Past Roles:

  • Director, Kenindia Assurance Co. Ltd, Kenya
  • Director, ACC Ltd., India
  • Chairman, Governing Board of National Insurance Academy
  • President, Insurance Institute of India
  • Chairman, Council of Insurance Ombudsman

Relationships and Compliance

Mr. Kumar is not related to any Director or Key Managerial Personnel of the Company. The Company affirms that he is not debarred from holding the office of Director by virtue of any SEBI order or other authority.

Meeting Details

The Board meeting commenced at 4:15 PM and concluded at 6:00 PM on November 4, 2026.