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Insurance
11-Apr-23
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LIC appoints Ratnakar Patnaik as CIO, & PC Paikray as CRO
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Life Insurance Corporation of India (LIC) has appointed Ratnakar Patnaik as the Chief Investment Officer, with effect from April 10, the insurer said in a filing. Patnaik will replace PR Mishra, who ceased to be the CIO on April 10. LIC also appointed PC Paikray as the Chief Risk Officer, who replaced Tablesh Pandey on April 10.
Patnaik is an industry veteran and has an experience of 32 years. Patnaik had joined LIC as a Direct Recruit Officer in September 1990.
The newly-appointed CIO, who took charge on April 10, has worked across four zones, mostly in marketing assignments. He headed the Indore and Jamshedpur divisions as Senior Divisional Manager and served as a Regional Manager in the Eastern zone for three years. After moving up the ranks, Patnaik joined the central office as Chief of Investment - Front Office. Patnaik has a major in Physics and is a fellow of the Insurance Institute of India.
The insurer in a filing over the weekend had said that PR Mishra ceased to be the Chief Investment Officer of the Corporation with effect from April 10. He has been transferred and posted to another assignment.
The insurer, in a separate filing, also announced the appointment of Pratap Chandra Paikray as the Chief Risk Officer with effect from April 10. He replaced Tablesh Pandey, who took charge as the Managing Director of the corporation on April 1.
Like Patnaik, Paikray also joined LIC as a Direct Recruit Officer in September, 1990. The CRO has vast experience in the insurance sector in both marketing and administration. He held various positions in the corporation in both regional offices and the central office. Paikray has a Bachelor's degree in Science, and also pursued his MBA. He too is a fellow of the Insurance Institute of India.
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