Life Insurance Corporation of India informs that Shri Vinod Kumar Verma and Dr. Ranjan Sharma cease to hold the position of Independent Directors of the Corporation upon completion of their term on April 28, 2026 (after the close of day). Consequent to the cessation of the position of Independent Directors, they also cease to be the chairperson/member of the respective committees. Details of committees where Independent Directors ceased to be chairperson/member: Shri Vinod Kumar Verma ceased to be member/chairperson of the Investment Committee, Nomination and Remuneration Committee, Risk Management Committee, Audit Committee, Policyholder Protection, Grievance Redressal and Claims Monitoring Committee, Stakeholders Relationship Committee (Chairperson), and Building Advisory Committee.
Dr. Ranjan Sharma ceased to be member/chairperson of the Executive Committee, Nomination and Remuneration Committee, Policyholder Protection, Grievance Redressal and Claims Monitoring Committee (Chairperson), Committee for Review of Wilful Defaulters, and Building Advisory Committee.
Life Insurance Corporation of India is an India-based insurance company. The Company is engaged in the business of life insurance in and outside India. It offers a range of individual and group insurance solutions including participating, non-participating and unit linked lines of businesses. The portfolio comprises various insurance and investment products such as protection, pension, savings, investment, annuity, health, and variable. Its segments include Participating Life Individual, Participating Pension Individual, Participating Annuity Individual, Non-Participating Life (Individual & Group), Non-Participating Pension (Individual & Group), Non-Participating Annuity Individual, Non-Participating Variable individual, Non-Participating Health individual, Non-Participating Unit Linked and Capital Redemption, and Annuity Certain Business (CRAC). Its Pension plans include New Pension Plus, Jeevan Akshay-VII, New Jeevan Shanti, Saral Pension, and Smart Pension.
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