New Delhi, 3/3: Life Insurance Corp. of India has appointed Sunil Agrawal as the chief financial officer, according to people familiar with the matter, as the state-backed insurer prepares for the nation’s largest initial public offering.
Agrawal’s appointment marks the first time LIC has hired an outsider for the firm’s top finance job and is aimed at aligning the 65-year-old insurer with market standards as it seeks to go public, the people said, asking not to be identified as the information isn’t public.
The CFO of Reliance Nippon Life Insurance Co Ltd. until 2018, Agrawal has been appointed on a contractual basis from this month, the people said. LIC will use Agrawal’s experience to engage with investors and new shareholders as it prepares for the IPO, the people added.
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