businessfortnight

Mumbai: In one of its biggest mid-level changes, Life Insurance Corporation (LIC) has shifted a majority of its 40 executive directors (EDs), apart from elevating 10 general managers as EDs. There are likely to be two more senior appointments at the state-run insurer as one of its three managing directors, SB Mainak, retired in February, while it has sought government permission to have a fourth MD, a decision on which is awaited. Mainak was looking after the investments vertical. One round of interviews for the MD’s post has already been conducted. Considering this, the company has retained two of its senior EDs — Sunita Sharma, chief executive and managing director of LICHFL, and Saroj Dikhale, CEO of LIC Nomura MF — in their existing positions. Company sources said the transfers were effected this Monday and the personnel will have to assume charge in May. Sharma, who is among the front-runners for the post of the third MD, will be completing her three-year tenure at LICHFL in Nove

New Delhi, Delhi, India Max Life Insurance, one of India’s leading non-bank promoted private life insurers, a joint venture between Max Financial Services Ltd and Mitsui Sumitomo Insurance Co. Ltd, has been conferred with the prestigious Outlook Money Award 2015 in the category ‘Life Insurance Provider of the Year’. The award was given by Mr. N K Singh, Former Parliamentarian and Senior Bureaucrat, at a function held in Mumbai on 1st April 2016. The Outlook Money Awards are given to the best providers of financial products and services in the Country. The Award is given basis a comprehensive set of measures including business performance, customer satisfaction parameters and corporate governance. Acknowledging the Award, Mr. Rajesh Sud – Executive Vice Chairman and Managing Director, Max Life Insurance, said, “We are delighted and extremely proud to be conferred with the Outlook Money Award 2015 in the category ‘Life Insurance Provider of the Year. In our 15 year journey, we have foc