LIC appoints Shatmanyu Shrivastava as CFO
The Life Insurance Corporation of India (LIC) has appointed Shatmanyu Shrivastava as its new Chief Financial Officer. Additionally, Varadarajan Muthuvenkataraman has been named the new Chief Risk Officer as part of a leadership reshuffle.
Why it matters
As a state-owned financial giant, leadership changes at LIC are significant for India's insurance sector and broader financial markets.
State-owned Life Insurance Corporation of India (LIC) on Tuesday (July 28, 2026) announced the appointment of Shatmanyu Shrivastava as Executive Director (Finance & Accounts) and Chief Financial Officer.
Previously, he was Executive Director (Enterprise Risk Management) and Chief Risk Officer. His appointment follows the resignation of CFO Sunil Agrawal earlier this month.
Mr. Shrivastava joined LIC in 1990 as an Assistant Administrative Officer and over three decades got exposure of working across all departments. He has worked in all four tiers of organisational structure — branch, divisional, zonal and central offices, LIC said.
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