Mumbai — Life Insurance Corporation of India (LIC), the country’s largest insurer, has announced the appointment of Pankaj Kumar Saxena as Executive Director (Alternate Channel) at its Central Office. The appointment, effective April 10, 2026, also designates him as a Senior Management Personnel (SMP) under regulatory guidelines.
The disclosure was formally submitted to BSE Limited and National Stock Exchange of India in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Appointment and Role
In his new role, Saxena will oversee LIC’s Alternate Channel operations, a critical vertical focused on expanding distribution networks beyond traditional agency channels. His appointment reflects LIC’s ongoing efforts to diversify its market reach and enhance customer accessibility through innovative platforms.
- Name: Pankaj Kumar Saxena
- Position: Executive Director (Alternate Channel)
- Location: Central Office, Mumbai
- Effective Date: April 10, 2026
Extensive Industry Experience
Saxena brings more than 35 years of experience within LIC, having joined the organization in 1990 as an Assistant Administrative Officer. Over the decades, he has held several key leadership roles across multiple regions, contributing significantly to LIC’s operational and marketing growth.
Prior to this appointment, he served as Managing Director & Chief Executive Officer of LIC Pension Fund Limited, a wholly owned subsidiary of LIC, where he played a pivotal role in strengthening the company’s pension fund operations.
Key Career Highlights
- Leadership roles across North Central, Northern, and Central Zones
- Senior Divisional Manager in Allahabad and Dehradun
- Regional Manager (Marketing), North Central Zone, Kanpur
- Over 27 years of dedicated experience in marketing leadership
Academic Credentials
Saxena holds a postgraduate degree in Mathematics along with a Post Graduate Diploma in Marketing Management, equipping him with both analytical and strategic expertise.
Regulatory Compliance and Transparency
LIC stated that the appointment has been made in full compliance with SEBI’s listing regulations. The disclosure will also be made available on the company’s official website, ensuring transparency for investors and stakeholders.
Strategic Significance
This leadership move is seen as part of LIC’s broader strategy to modernize its distribution channels and strengthen its presence in a competitive insurance landscape. With Saxena’s deep institutional knowledge and marketing expertise, LIC aims to accelerate growth in alternate channels and improve customer engagement across India.