Government appoints Dr Parshant Kumar Goyal as nominee director on LIC board
Shares of Life Insurance Corporation of India ended at ₹803.55, down by ₹6.20, or 0.78%, on the BSE.
State-owned Life Insurance Corporation of India (LIC) on Thursday (April 18) said the central government has appointed Dr Parshant Kumar Goyal, Joint Secretary at the Department of Financial Services, as the Government Nominee Director on the board, effective immediately.
The move comes through a notification issued on April 17, 2025, replacing outgoing nominee director Dr Maruthi Prasad Tangirala. Dr Goyal, a 2007-batch IAS officer of the Tripura cadre, is currently serving on Central Deputation.
He brings with him considerable experience in key financial sectors, including financial inclusion and digital payments, as well as agricultural credit and regional rural banks during his earlier stint as Director in the Department of Financial Services.
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He has also held key roles in the Tripura state administration, including Secretary to the Chief Minister and responsibilities in the General Administration and Industries & Commerce departments.
An MBBS graduate from Punjabi University, Dr. Goyal has significant administrative experience in the education sector across Punjab and Tripura. The appointment is effective from April 17 and will continue until further notice.
Life Insurance Corporation of India posted a 21% year-on-year (YoY) decline in new business premium (NBP) for the third quarter of FY25 at ₹43,075 crore. Despite the drop, this figure exceeded CNBC-TV18’s estimates of ₹42,406 crore, indicating resilience in LIC’s premium collections amid market challenges.
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PSU insurer reported a 17% on-year rise in standalone net profit for the third quarter of FY25, coming in at ₹11,056 crore, compared to ₹9,444 crore in the same period last year. However, total income declined to ₹2,01,994 crore from ₹2,12,447 crore in Q3FY24, reflecting a dip in investment and policyholder-related earnings.
Shares of Life Insurance Corporation of India ended at ₹803.55, down by ₹6.20, or 0.78%, on the BSE.
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