LIC Appoints Ratnakar Patnaik As Chief Investment Officer

Ratnakar Patnaik has been appointed as the Chief Investment Officer of Life Insurance Corporation of India (LIC), the insurer announced in a statement. The appointment is effective as of April 10. Patnaik will take over for PR Mishra, who resigned as CIO on April 10. Moreover, PC Paikray was selected to take over as Chief Risk Officer on April 10 in place of Tablesh Pandey.

Patnaik has 32 years of expertise and is a seasoned professional. In September 1990, Patnaik joined the LIC as a Direct Recruit Officer.

The newly appointed CIO, who assumed leadership on April 10, has experience working in four zones, primarily on marketing-related projects. As Senior Divisional Manager, he oversaw the divisions in Jamshedpur and Indore. He also spent three years as a Regional Manager in the Eastern zone.

Patnaik joined the central office as Head of Investment - Front Office after rising through the ranks.

Ratnakar Patnaik is a member of the Insurance Institute of India and a physics major.

The insurer stated in a filing over the weekend that PR Mishra no longer serves as the Corporation's chief investment officer as of April 10. He has been posted to a different assignment and transferred.

In a separate filing, the insurer also announced Pratap Chandra Paikray's appointment as Chief Risk Officer, effective as of April 10. He took over for Tablesh Pandey, who was appointed the corporation's Managing Director on April 1.

In September 1990, Paikray also joined the LIC as a Direct Recruit Officer. The CRO has a plethora of marketing and management expertise in the insurance industry. Throughout the corporation, he held a variety of roles in both the central office and the regional offices. Paikray holds a science bachelor's degree and also studied for an MBA. He is also a fellow of the Indian Insurance Institute.