The government of India has approved the premature termination of the appointment of Dinesh Pant as managing director (MD) of Life Insurance Corporation of India (LIC) following his voluntary retirement, with effect from 24 September 2026.
Mr Pant is a veteran LIC executive with over 35 years of experience in insurance and finance. A Fellow of the Institute of Actuaries of India and the Institute and Faculty of Actuaries, UK, he has held several key positions at LIC, including Appointed Actuary and Executive Director (Actuarial), before taking charge as MD in June 2025
According to a notification issued by the Department of Financial Services (DFS) , ministry of finance (MoF), on 24 September 2026, the Central government approved the premature termination of Mr Pant’s appointment as MD of LIC under the Life Insurance Corporation of India (Staff) Rules, 1960 and the Life Insurance Corporation of India Managing Directors (Revision of Certain Terms and Conditions of Service) Rules, 1988.
LIC, in a regulatory filing dated 25 September 2026, said Mr Pant was relieved from the services of the Corporation on account of his voluntary retirement and ceased to be its MD and key managerial personnel (KMP) with effect from the close of business hours on 24 September 2026.
Mr Pant’s exit comes just over three months after LIC disclosed that the department of financial services had appointed him as a whole-time member (Actuary) of the Insurance Regulatory and Development Authority of India (IRDAI). The appointment was notified on 15 June 2026.
As per LIC’s 16 June 2026 filing, Mr Pant was appointed as a whole-time member (Actuary) of IRDAI for a period of five years from the date of assumption of charge, or until he attained the age of 65 years, or until further orders, whichever was earliest.
Following his retirement from LIC, Mr Pant has also ceased to be the chairperson of LIC’s information technology strategy committee. He has also ceased to be a member of the Executive Committee and Investment Committee of the Corporation.
The Government notification said the premature termination of his appointment as LIC MD was being approved on account of his retirement on a voluntary basis. The notification was issued under the powers conferred by the relevant provisions governing LIC’s senior management.
Mr Pant’s departure follows his tenure as LIC MD, while his appointment to IRDAI places him in a regulatory role in the insurance sector. The LIC filing was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
LIC said the required details under Regulation 30 and the relevant SEBI circulars had been enclosed with its filing and that the information would be disseminated to the stock exchanges.
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