LIC Share Price in Focus as Sanjay Lohiya Appointed Government Nominee Director, Replacing Shalini Pandit Effective May 13, 2026

The Life Insurance Corporation of India (LIC) has announced a significant change in its board composition.  

Sanjay Lohiya has been appointed as the Government Nominee Director, replacing Shalini Pandit, effective May 13, 2026. 

Sanjay Lohiya's Appointment to LIC Board 

On May 13, 2026, the Central Government appointed Sanjay Lohiya as the Government Nominee Director on the LIC Board.  

This appointment is effective immediately and will remain in place until further orders. Sanjay Lohiya, an IAS Officer from the 1994 batch, currently serves as the Special Secretary in the Department of Financial Services, Ministry of Finance. 

Lohiya's extensive experience includes roles such as Additional Secretary in the Ministry of Mines and Principal Secretary to the Chief Minister of Assam.  

His tenure in the Ministry of Mines was marked by significant reforms aimed at expediting exploration and promoting private sector involvement. 

Cessation of Shalini Pandit from LIC Board 

With Sanjay Lohiya's appointment, Shalini Pandit ceases to be the Government Nominee Director on the LIC Board from May 13, 2026.  

Consequently, she also steps down from her roles in the Executive Committee, Nomination & Remuneration Committee, Audit Committee, and Risk Management Committee. 

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Background of Sanjay Lohiya 

Sanjay Lohiya's career is distinguished by his leadership roles across various government departments.  

Before his current role, he served as Additional Secretary in the Ministry of Mines, where he implemented reforms to enhance the mining sector's efficiency.  

His previous positions include the Joint Secretary in the Ministry of Agriculture and Director in the Prime Minister's Office. 

LIC Share Price Performance 

As of May 13, 2026, at 3:30 PM, LIC share price on NSE was closed at ₹787.05 up by 0.81% from the previous closing price. 

Conclusion 

The appointment of Sanjay Lohiya as Government Nominee Director on the LIC Board marks a strategic shift in the corporation's leadership. With his extensive experience in government service, Lohiya is expected to bring valuable insights to the board. This change also signifies the cessation of Shalini Pandit's tenure, who has contributed significantly during her time on the board. 

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