Life Insurance Corporation of India (LIC), India’s leading insurers, said its Chief Financial Officer (CFO) Sunil Agrawal is resigning after over four years of service with the insurer.
In a regulatory filing, LIC said that Agrawal’s resignation will be effective from the close of business hours on 14 July, when he will cease to be the CFO and Key Managerial Personnel of the Corporation. The reason cited for the resignation was “better prospects”.
Earlier on March 2, LIC informed the exchanges that Agrawal’s term had been extended for another year. The filing said, “It is to inform that the term of Shri Sunil Agrawal, Chief Financial Officer, Life Insurance Corporation of India (“the Corporation”) has been extended for a further period of one year, i.e., till March 01, 2027.”
As per shareholder data from March 2026 quarter, LIC shares in Rajesh Exports are around 10.80% of Rajesh Exports, a position it has maintained without a single share bought or sold since at least September 2023.
In his resignation letter, CFO wrote, “I hereby submit my resignation from the position of Chief Financial Officer at Life Insurance Corporation of India as I pursue better prospects. I kindly request to be relieved from my responsibilities effective 14th July 2026.”
“I am grateful for the opportunities, guidance and encouragement I have received during my tenure. I extend my best wishes for the Corporation’s continued achievements in future. I shall be glad to provide any assistance as may be required.”
LIC acknowledged his contribution to the organisation and said, “The Corporation places on record its sincere appreciation for his valuable contributions during his tenure and wishes him the very best in his future endeavours.”
Before joining LIC, he spent more than 12 years at Reliance Nippon Life Insurance and also held leadership roles at ICICI Prudential Life Insurance. Later, he joined LIC in March 2022 during a crucial phase when the insurer was gearing up for its stock market debut.