On Tuesday, the Indian life insurance business Life Insurance Corporation of India (LIC) made public the appointments of PC Paikray to the position of Chief Risk Officer and Ratnakar Patnaik to the position of Chief Investment Officer.
Patnaik has been given the responsibility of taking over for PR Mishra, who has been moved to a new location and given new responsibilities. According to the application that LIC made with the regulatory agency, his appointment as CIO would become official on April 10, 2023.
“We wish to inform you about the appointment of Shri Ratnakar Patnaik as Chief Investment Officer (Key Management Person) of the Corporation with effect from 10th April 2023,” said LIC. “We wish to inform you about the appointment of Shri Ratnakar Patnaik as Chief Investment Officer (Key Management Person) of the Corporation with effect from 10th April 2023.”
Prior to that, Patnaik had first started working with LIC in September of 1990 as a Direct Recruit Officer. Throughout the last 32 years, he has had jobs in four different zones, most of which have been marketing assignments. His past roles include Senior Divisional Manager for the Indore and Jamshedpur Divisions, as well as Regional Manager (CLIA) for the Eastern Zone, a position he held for three years. In May of 2021, he was promoted to the position of Chief Investment Officer at the Front Office at the Central Office.
On the 10th of April 2023, LIC also named PC Paikray for the position of Chief Risk Officer. As of the first of April in 2023, he will take over for Tablesh Pandey, who has been appointed to the position of Managing Director (MD) of the company.
