The Government of India has appointed Siddhartha Mohanty as the first chief executive of the Life Insurance Corporation of India (LIC). He will assume the new role for the term beginning in June 2024 to June 2025. Since March 2023, Mohanty has been serving as the LIC's interim chairman.

It has decided to phase out the post of chairman to be in line with other publicly traded corporations. He commenced his career with insurer as a direct recruit officer in 1985 and climbed through the ranks to the top position.