Change in Director / Key Managerial Personnel
Appointment 1: Varadarajan Muthuvenkataraman
Nature of change: Re-designation
Name and DIN: Shri Varadarajan Muthuvenkataraman (DIN not disclosed)
Effective date and tenure: July 28, 2026 until superannuation or till further order, whichever is earlier
Brief profile: Mr. Muthuvenkataraman joined LIC in 1992 as Assistant Administrative Officer. He holds a graduate degree in Chemistry from University of Madras and is a Fellow of the Insurance Institute of India. He has completed the Post Graduate Executive Programme from Indian Institute of Management, Ahmedabad. With over three decades at LIC, he has worked in administrative and marketing wings across South Central Zone, South Zone and Central Office. Key positions include Branch Manager, Senior Branch Manager, Divisional Manager (Pension and Group Schemes), Manager (Sales) at LIC Singapore Pte Ltd., Regional Manager of Direct Marketing and Micro Insurance, Secretary (Marketing/Senior Business Associate) at South Zone, and Secretary (Strategic Business Unit – International Operations) at Central Office. Immediately prior to this appointment, he was Additional Executive Director (Enterprise Risk Management), Central Office, Mumbai.
Appointment 2: Shatmanyu Shrivastava
Nature of change: Appointment
Name and DIN: Shri Shatmanyu Shrivastava (DIN not disclosed)
Effective date and tenure: July 28, 2026 until superannuation or till further order, whichever is earlier
Brief profile: Shri Shatmanyu Shrivastava is a Fellow Member of Institute of Chartered Accountants of India (passed 1989) and Fellow of Insurance Institute of India (passed 2000). He is pursuing Actuarial studies and has passed 7 papers of Actuarial examination conducted by Institute of Actuaries of India. He joined LIC in 1990 as Assistant Administrative Officer. With over three decades of experience, he has worked across all departments and all four tiers of organizational structure (Branch Offices, Divisional Offices, Zonal Offices, and Central Office). He joined as Chief (Finance & Accounts), Central Office in May 2022 and steered the first closing of accounts post-IPO. He has wide exposure to SEBI (LODR) Regulations and IRDAI Regulations compliance. Immediately prior to this appointment, he was Executive Director (Enterprise Risk Management) & Chief Risk Officer.
Confirmation of eligibility: Both appointments were made on recommendation of Nomination & Remuneration Committee, indicating compliance with SEBI/BSE/NSE norms.
Relationship with other directors: Not applicable for both appointments.
Previous KMP: Shatmanyu Shrivastava previously held the position of Executive Director (Enterprise Risk Management) & Chief Risk Officer, which he vacated to assume the CFO role.
Key Financial or Operational Approvals
The Board meeting approved the appointments of Key Managerial Personnel as detailed above. No other financial or operational approvals were mentioned in the disclosure.
Strategic or Business Context
No specific business outlook, risks, trends, or strategic commentary was provided in this disclosure beyond the managerial appointments.
Any Other Material Information
Board meeting details: The meeting commenced at 11:15 a.m. IST on July 28, 2026 and concluded at 13:25 p.m. IST.
Regulatory compliance: The disclosure is made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Para A of Schedule III and relevant circulars.
Company official: Anshul Kumar Singh, Company Secretary & Compliance Officer, signed and submitted the disclosure.