<p>The government today appointed S K Roy as the Chairman of Life Insurance Corporation of India.<br /><br /></p>.<p>The Appointments Committee of the Cabinet (ACC) has already cleared his name. The notification in this regard has been issued, sources said.<br /><br />Roy, who at present a Managing Director in the organisation, would be succeeding D K Mehrotra, whose term as LIC chief ended on May 31.<br /><br />Roy would be at the helm of the insurance behemoth for a period of five years, official sources said, adding, he would assume charge on July 1.<br /><br />The other candidates who were in fray for this top job were Managing Director Sushobhan Sarkar and Executive Director S B Mainak.<br /><br />Roy joined Life Insurance Corporation of India in 1981. On May 31, 2013, he assumed charge as Managing Director of LIC along with Thomas Mathew and Sushobhan Sarkar.<br /><br />Prior to his elevation, he was head of the International Operations division. He was also zonal manager of North Central Zone and Eastern Zone of the insurance firm.<br /><br />LIC, which manages assets worth around Rs 14-lakh crore of over 20 crore policyholders, has the largest market share among 24 players in the industry.</p>
<p>The government today appointed S K Roy as the Chairman of Life Insurance Corporation of India.<br /><br /></p>.<p>The Appointments Committee of the Cabinet (ACC) has already cleared his name. The notification in this regard has been issued, sources said.<br /><br />Roy, who at present a Managing Director in the organisation, would be succeeding D K Mehrotra, whose term as LIC chief ended on May 31.<br /><br />Roy would be at the helm of the insurance behemoth for a period of five years, official sources said, adding, he would assume charge on July 1.<br /><br />The other candidates who were in fray for this top job were Managing Director Sushobhan Sarkar and Executive Director S B Mainak.<br /><br />Roy joined Life Insurance Corporation of India in 1981. On May 31, 2013, he assumed charge as Managing Director of LIC along with Thomas Mathew and Sushobhan Sarkar.<br /><br />Prior to his elevation, he was head of the International Operations division. He was also zonal manager of North Central Zone and Eastern Zone of the insurance firm.<br /><br />LIC, which manages assets worth around Rs 14-lakh crore of over 20 crore policyholders, has the largest market share among 24 players in the industry.</p>