Mumbai (Maharashtra) [India], September 25 (ANI): Life Insurance Corporation of India (LIC) on Friday announced that its Managing Director Dinesh Pant has taken voluntary retirement following approval from the Government of India. Pant was appointed as Whole-Time Member (Actuary) of the Insurance Regulatory and Development Authority of India (IRDAI) in June this year.

In an exchange filing, LIC said the government approved Pant's voluntary retirement through a notification dated September 24, 2026.

'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. 

Following the approval, Pant was relieved from LIC's services and ceased to be its Managing Director and Key Managerial Personnel with effect from the close of September 24.

LIC also informed the stock exchanges that Pant has ceased to be the Chairperson of its Information Technology Strategy Committee. He is also no longer a member of the corporation's Executive Committee and Investment Committee. 

Earlier, in an exchange filing dated June 16, LIC had informed the stock exchanges that the Department of Financial Services, Ministry of Finance, had appointed Pant as Whole-Time Member (Actuary) of IRDAI through a notification dated June 15, 2026.

According to the June filing, his appointment to the insurance regulatory body is for a period of five years from the date of assuming charge, until he attains the age of 65 years, or until further orders, whichever is earlier. 

The latest filing confirms Pant's formal exit from LIC following the government's approval of his voluntary retirement. However, the corporation has not announced his successor in the September 25 disclosure. (ANI)