Ratnakar Patnaik has officially taken charge as the Managing Director of Life Insurance Corporation of India (LIC), following a notification by the Government of India. A seasoned LIC veteran, Patnaik brings over three decades of experience across critical domains such as investments, marketing, and customer servicing.
Having joined LIC in 1990, Patnaik has served in several key leadership roles across Indore, Jamshedpur, and the Eastern Zone, consistently driving strategic growth and operational excellence. Most recently, he served as Executive Director (Investment Front Office) and later as Chief Investment Officer, where he played a pivotal role in steering LIC’s robust investment strategies.
A Fellow of the Insurance Institute of India, Patnaik holds academic qualifications in Physics and Public Administration, along with a diploma in Health Insurance. His elevation comes at a crucial time, as LIC continues to strengthen its market leadership through strategic investments and enhanced service delivery.