LIC Housing Finance appoints new non-executive director and chairman

LIC Housing Finance Limited (LIC HFL) has announced the appointment of Doraiswamy Ramachandran as an additional non-executive (nominee) director and chairman of the company, effective October 16, 2025. This decision, made via circulation by the board of directors, follows the recommendations of the nomination & remuneration committee. His appointment is not subject to retirement by rotation, but requires approval from the Reserve Bank of India under Clause 45.3 of the Non-Banking Finance Company - Housing Finance Company (Reserve Bank) Master Directions, 2021.

The appointment is also contingent on confirmation from shareholders at the next general meeting or within three months of the appointment date, whichever is earlier. Ramachandran has provided disclosures confirming he meets the National Housing Bank's (NHB) fit & proper criteria for board appointments. He is currently the chief executive officer & managing director on the board of LIC of India (promoter) and is not related to any other directors of LIC HFL.

Ramachandran assumed his role as CEO & MD of Life Insurance Corporation of India on July 14, 2025, bringing over 39 years of diverse experience in operations, marketing, technology, and academics. He previously headed various functions as managing director, including marketing, group business, customer relations, and finance, and held key leadership positions in IT and regional management.