LIC gets its first woman MD - Usha Sangwan appointed MD

Life Insurance Corporation of India (LIC) on Friday got its first female managing director (MD) and another new MD.

The government has appointed Usha Sangwan, executive director (corporate communication) at LIC and V K Sharma, MD and chief executive officer of LIC Housing Finance, as the two new MDs. With these two appointments, LIC is set to function at its full strength of four MDs after almost two years. These would be S B Mainak, Sushobhan Sarkar, Sangwan and Sharma. According to finance ministry sources, the two new MDs have been appointed till they retire from the corporation. According to the norms, LIC can have four MDs, and a chairman, as part of its top management. After former managing director T S Vijayan retired in November 2012, there were only two MDs — Sarkar and Thomas Mathew T.

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