Life Insurance Corporation of India is reshaping its leadership bench with two key executive moves that underscore a sharpened focus on risk and finance. The board has approved appointing Varadarajan Muthuvenkataraman as Chief Risk Officer, while he continues in his role as Executive Director (Enterprise Risk Management). In a parallel move, Shatmanyu Shrivastava is appointed Chief Financial Officer, joining LIC as Executive Director (Finance & Accounts).
Varadarajan Muthuvenkataraman, who has spent three decades with LIC since joining in 1992, will now hold a dual mandate as Executive Director (Enterprise Risk Management) and Chief Risk Officer. A chemistry graduate and Fellow of the Insurance Institute of India, he has held a spectrum of leadership roles across South Central, South, and Central offices, including stints abroad with LIC’s Singapore subsidiary. His robust experience in both administrative and marketing wings positions him to helm the risk function with an enterprise-wide perspective.
Shatmanyu Shrivastava brings a long track record in LIC’s Finance & Accounts domain, having joined the corporation in 1990 and steering the first closing of accounts post-IPO. A Fellow of the Institute of Chartered Accountants of India and a Fellow of the Insurance Institute of India, he is advancing actuarial studies and has progressed through LIC’s four-tier structure to broader financial leadership. Prior to this appointment, he served as Executive Director (Finance & Accounts) and Chief Financial Officer, and he has also served in the capacity of Executive Director (Enterprise Risk Management) & Chief Risk Officer.
Together, the moves reflect LIC’s intent to strengthen its executive leadership in risk governance and financial stewardship. With a deep bench of seasoned leaders who have navigated a wide range of responsibilities, LIC aims to balance growth with prudent risk management and disciplined financial oversight as it continues to pursue its broad agenda in a dynamic insurance landscape.