Life Insurance Corporation of India (LIC) Managing Director Dinesh Pant has stepped down from the state-owned insurer after the Government of India approved his voluntary retirement.
LIC disclosed that Pant was relieved from the Corporation’s services and ceased to be its Managing Director and Key Managerial Personnel (KMP) after the close of business on September 24, 2026.
Pant’s exit comes ahead of his proposed move to the Insurance Regulatory and Development Authority of India (IRDAI). The government had appointed him in June as Whole-Time Member (Actuary) of IRDAI for a five-year term, subject to the applicable age limit and government orders.
Pant had taken charge as LIC Managing Director in June 2025. His scheduled tenure was to continue until his superannuation on May 31, 2027. The voluntary retirement therefore brings his LIC tenure to an early close.
With his departure, Pant has also ceased to be chairperson of LIC’s Information Technology Strategy Committee and a member of its Executive Committee and Investment Committee.
Pant brings extensive actuarial and investment experience to his next assignment. Before becoming Managing Director, he served as LIC’s Appointed Actuary and Executive Director (Actuarial). He is a Fellow of the Institute of Actuaries of India and the Institute and Faculty of Actuaries, UK, and holds degrees in engineering and law besides an MBA.
The government’s June decision had cleared Pant along with former New India Assurance CMD Girija Subramanian for Whole-Time Member positions at IRDAI. Pant’s transition required voluntary retirement because his existing LIC tenure was still running.
LIC has not announced Pant’s successor in its September 25 disclosure.
