Ms. Usha Sangwan: The first woman managing director of LIC

The Government of India appointed Ms Usha Sangwan as the first woman managing director of Life Insurance Corporation of India (LIC) and Vijay Kumar Sharma as an MD and chief executive officer of LIC Housing Finance. With these appointments, LIC is set to function at its full strength of four MDs. These are S B Mainak, Sushobhan Sarkar, Usha Sangwan and V K Sharma.
As per the norms, LIC can have four MDs, and a chairman, as part of its top management.

About Life Insurance Corporation of India (LIC)

• Indian state-owned insurance group and Investment Company.
• Headquarters: Mumbai.
• Founded: 1 September 1956.
• Current Chairman: SK Roy
• Offers a variety of insurance products to its customers such as insurance plans, pension plans, unit-linked plans, special plans and group schemes.

Month: Current Affairs - December, 2013