Hemant Bhargava named interim chief of LIC

New Delhi: The government on Tuesday appointed Life Insurance Corporation’s (LIC) senior-most Managing Director Hemant Bhargava as the insurer’s interim chairman, in place of V K Sharma who retired on Monday.Meanwhile, the government has already initiated process to select regular chairman and managing director of LIC. Bhargava was appointed as the MD of LIC in February 2017, the insurer said in a statement.

Apart from Bhargava, there are two more MDs of LIC currently. He was instrumental in completing the design and setting up a separate microinsurance vertical which was LIC’s first comprehensive enterprise-wide initiative in financial inclusion space.Meanwhile, a high level search panel headed by former DoPT Secretary B P Sharma is scheduled to conduct interview for selection of the chairman and a managing director of insurance.

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