Life Insurance Corporation of India (LIC) has announced the formal exit of Managing Director Dinesh Pant from the state-owned insurer after the Government of India approved his request for voluntary retirement. The development was announced by LIC in a stock exchange filing on Friday. The government’s approval was issued through a notification dated September 24, 2026. Pant has now been relieved of his responsibilities at LIC and has ceased to serve as the company’s Managing Director and Key Managerial Personnel (KMP).
Pant’s departure comes months after he was selected for a senior role at the Insurance Regulatory and Development Authority of India (IRDAI), the insurance sector regulator.
LIC said Pant’s voluntary retirement was approved by the government with effect from the date of the relevant notification. The insurer subsequently relieved him from its services at the close of September 24.
“The Government of India… has approved the voluntary retirement of Shri Dinesh Pant, Managing Director and Key Managerial Personnel (“KMP”) of Life Insurance Corporation of India (“the Corporation”), with effect from the date of issue of said notification,” LIC said in its filing.
With the approval taking effect, Pant is no longer part of LIC’s senior management. The latest disclosure also marks the completion of his tenure as one of the insurer’s Managing Directors.
His exit from LIC extends beyond the Managing Director position. The company informed the stock exchanges that Pant has also ceased to be the Chairperson of its Information Technology Strategy Committee.
He is no longer a member of LIC’s Executive Committee or its Investment Committee either. These changes took effect alongside his cessation from the company’s services at the end of September 24.
Five-Year IRDAI Appointment Came In June
Pant’s move to the insurance regulator had already been disclosed by LIC earlier this year. In a June 16 exchange filing, the corporation said the Department of Financial Services under the Ministry of Finance had appointed him as Whole-Time Member (Actuary) of IRDAI.
The appointment was made through a government notification dated June 15, 2026.
According to LIC’s June disclosure, Pant’s tenure as Whole-Time Member (Actuary) is set for five years from the date he assumes charge. The appointment will continue until he reaches the age of 65, or until further orders, whichever occurs earlier.
The IRDAI role places Pant on the regulatory side of the insurance industry after his tenure in LIC’s senior management.
LIC Yet To Name Pant’s Successor
The September 25 disclosure formally confirms Pant’s departure from LIC following the government’s approval of his voluntary retirement.
However, LIC has not announced a successor to Pant in the latest filing. Any subsequent appointment to fill the Managing Director position would therefore be a separate development from the voluntary retirement approval announced on Friday.
