Mumbai, June 03: Ratnakar Patnaik has taken charge as Managing Director of the Life Insurance Corporation of India (LIC), following his new appointment by the Government of India through official notification. His elevation came into effect on June 1.
Born in 1968, Shri Patnaik began his career with LIC in March 1990 as a Direct Recruit Officer. He is a Physics (Honours) graduate and holds a Master’s degree in Public Administration. He is also a Fellow of the Insurance Institute of India and holds a Diploma in Health Insurance. Over the span of an illustrious 35-year career, Shri Patnaik has held key positions across the country. Notably, he served as Senior Divisional Manager in both Indore and Jamshedpur Divisions and as Regional Manager (Marketing/CLIA) in the Eastern Zone. Prior to his elevation, he was Executive Director (Investment–Front Office) and Chief Investment Officer of LIC. Patnaik has made significant contributions in the areas of marketing, customer servicing, and investments, and is widely respected for his strategic insight and leadership in the insurance sector.
