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Board Members
Shri Vijay Kumar Sharma, Chairman Chairman, L.I.C. of India
Shri Vijay Kumar Sharma took charge as Chairman (In charge) and Managing Director, Life Insurance Corporation of India on 16th September, 2016. Prior to his taking over as Managing Director, LIC of India, on 1st November, 2013, he was Managing Director & Chief Executive Officer, LIC Housing Finance Limited (LICHFL), a premiere housing finance provider in the country with loan portfolio exceeding `83,000 crore.
Shri Vijay Kumar Sharma, born on 19th December, 1958 is a post-graduate (M.Sc.) in Botany from Patna University. Shri Sharma joined LIC as Direct Recruit Officer in 1981 and has grown with the Company since then. During his stint as Senior Divisional Manager, Karnal, a rural division, had catapulated to Number One position in the country in premium income ahead of all other metro centres. As Executive Director of Pension & Group Schemes, he pioneered the launch of various prestigious pension schemes in the country. As Zonal Manager in-charge of Southern Zone, he successfully turned around its operations and put it on growth trajectory,making it No. 1 zone in 2010.
Shri Sharma’s focused leadership, proficient in invigorating staff performance, re-organizing teams and developing talent, LICHFL maintained its growth momentum despite volatile markets and adverse macro-economic conditions. During his tenure LICHFL was adjudged as “Best Housing Finance Company 2011” by CNBC-TV 18. His key areas of expertise have been Business Strategy, Business Development, Processes and Systems, Leadership Development, Branding and Product Development, and Risk Mitigation and Compliance. A strategic leader, recognized for making sweeping improvements to efficiency, product development and marketing and identifying areas of opportunity, he is acclaimed as a “Crisis Manager” for stabilizing operations and leading turnaround growth strategies in uniquely challenging situations. He has been an inspirational leader who utilizes negotiation skills gained over thirty five years of extensive experience in insurance and financial sectors and strongly connects to the grass root levels, believes in “bottom-up approach” and has the ability to see the Big Picture and translate to reality.
Mr.B Venugopal, Director,Managing Director, L.I.C. of India
Mr. B. Venugopal, who hails from Haripad in Alapuzha District of Kerala State, graduated in Commerce and Cost Accountancy from the University of Kerala. He has also undergone training in IT, Business strategies, Project Management, etc. at IIMs - Kolkata and Ahmedabad, ISB-Hyderabad, Asian Institute of Management - Manila and FALIA - Japan.
As Managing Director since April 2017, Mr. Venugopal is responsible for the following portfolios of LIC: Marketing-Bancassurance & Alternative Channels, Direct Marketing, Estates & Office Services, Finance & Accounts, Inspection, Internal Audit, Investment (Risk Management & Research), Legal & House Property Finance, New Business & Reinsurance.He joined LIC in November 1983, initially at Kasaragod Branch in Kerala, before moving to the EDP Department, Mumbai, working as a Computer Operating Officer, Systems Analyst & Programmer and Manager (EDP). Later he worked as Marketing Manager at Madurai, Senior Divisional Manager-In-Charge of LIC’s Divisions at Madurai and Coimbatore and Regional Manager (Estates & Office Services) at Chennai before becoming the Chief (IT/Business Process Re-engineering) at the Central Office, Mumbai, in April 2005. From April 2008 to April 2015, he headed the two wings of Information Technology in LIC as Executive Director (IT/Software Development) and Executive Director (IT/Business Process Re-engineering). During his career in LIC, it has been his privilege to be associated with most of the path-breaking initiatives taken by LIC in the field of IT and BPR. These include the introduction of LIC’s Core Business Solution called the Front End Application Package, setting up of the first ever Metro Area Networking and IVR Systems of LIC, implementation of projects such as the Corporate Active Data Warehouse (CADW), Enterprise Document Management Systems (EDMS), Customer/Agent/Employer/Vendor Portals, LIC Mobile Application, Online Underwriting Engine and Online sale of Policies. LIC develops and maintains all of its software in-house and is perhaps the biggest user of the open source platform in the country. On more than one occasion, LIC has won the NASSCOM Award for the Best User of IT amongst insurance companies in India. Prior to his appointment as Managing Director, he held the position of Zonal Manager-In-Charge of LIC’s Western Zone, headquartered at Mumbai, comprising the states of Maharashtra, Gujarat and Goa and the Union Territories of Daman, Diu and Dadra-Nagar Haveli. In the Financial Year 2016-17, the Western Zone, which accounts for almost 1/4th of LIC’s premium income, garnered a New Business Premium of 26,629 crore, as against a target of 17,050 crore, and a total premium Income of nearly 70,000 crore. As Managing Director, Mr. Venugopal is responsible for the following portfolios of LIC: Marketing-Bancassurance & Alternative Channels, Direct Marketing, Estates & Office Services, Finance & Accounts, Inspection, Internal Audit, Investment (Risk Management & Research), Legal & House Property Finance, New Business & Reinsurance. He represents LIC of India as Director on the Boards of LIC (Nepal) Limited and National Commodity & Derivatives Exchange Limited, State Bank of India and is on the Board of Trustees of LIC’s Provident Fund and LIC’s Golden Jubilee Foundation.He has an active interest in reading, sports and classical music.
Mr. Ashok Agrawal, Director,Managing Director, Vishal Group Ltd.
Mr. Ashok Agrawal , a commerce graduate, is the Managing Director of Vishal Group of companies and also is Director of Bank of Asia Nepal Ltd., LIC (Nepal), Prudential Insurance Company Ltd., Mainawati Steel Industries Pvt. Ltd. and Global Trading House Ltd. He is also the President of Nepal Foreign Trade Association (NFTA), Member of Nepal India Chamber of Commerce, and Gordhandass Kamlawati Paropkari Pratisthan. He is involved in Trading, Industrial & Service Sector Activities since last 24 years.
Mr. Kumar Keshar Bista, Director,Nominee of Shareholders.
Shri Kumar Keshar Bista represents the Board as public director since 24 May 2016. Prior to joining this company, he was the public director at Prime Life Insurance Company Ltd. Academically, Shri Bista has passed Bachelor’s Degree in Commerce & Business Administration (T.U., Nepal, 1977) and Professional Degree in Cost and Management Accountancy (Institute of Cost Accountants of India, 1988). Shri Bista is a well-known personality at share market of Nepal. He has over 37 years of working experiences on financial management at various organizations. Presently, he has been the Deputy Team Leader of Crown Agents/DFID since May 1, 2013. He has worked as Financial Management Expert and Analyst at several places like Ministry of Local Development/UNDP, WYG International/UK, Asian Development Bank/Manila, LBFC/DASU-DANIDA, United Nations Capital Development Fund, World Food Program Office, Nepal, Transparency International Nepal, Economic Analysis Division of Ministry of Finance and also Part time Lecturer for Master’s Level on the subject "Advanced Auditing and Taxation" at Shanker Dev Campus, Kathmandu.
Mr. V.K. Kukreja, Director.
Mr. V.K. Kukreja holds B.Com. (Honors) and Chartered Accountants Degree and presently doing a professional practice of Chartered Accountancy as partner in M/S S.P. Chopra and Company Chartered Accountants, Mumbai, India. Mr. Kukreja possesses 30 years of rich experience in life insurance sector. He joined LIC of India in 1982 and retired on 30th September 2012 when he was LIC's Executive Director (Finance & Accounts). Prior to this, he has successfully led several other key assignments of LIC like Dy. General Manager of LIC Mutual Fund, Regional Manager (Finance & Accounts) for north, north central & west zones of LIC, Chief of Investment Department and Executive Director of Investment Department in LIC of India.