Mumbai: Ratnakar Patnaik, who has been elevated to the rank of Managing Director of LIC of India on 1st June 2025, has taken over the charge of his new responsibilities. He was appointed as Managing Director vide Government of India notification dated 14th May 2025. Born in 1968, Mr. Patnaik joined LIC of India in March 1990 as a Direct Recruit Officer. He is a Graduate with Physics (Honours) and holds a Master Degree in Public Administration. He is Fellow of Insurance Institute of India and also holds a Diploma in Health Insurance. Prior to taking charge as Managing Director of LIC, Patnaik was Executive Director (Investment Front Office) and Chief Investment Officer of the Corporation.
In a career span of 35 years in the Corporation, Patnaik has occupied important positions across many geographical regions.
He was the Senior Divisional Manager of Indore and Jamshedpur Divisions and also worked as Regional Manager (Mktg/CLIA) in the Eastern Zone.
He has made his mark in the areas of Marketing, Customer Servicing and Investment in various capacities over the years of his career.
