LIC's CFO Sunil Agrawal Resigns After Four Years of Service

Sunil Agrawal Steps Down as CFO of LIC

Life Insurance Corporation of India (LIC), a prominent player in the insurance sector, has announced the resignation of its Chief Financial Officer (CFO), Sunil Agrawal, who has served the company for over four years. According to a regulatory announcement, Agrawal's resignation will take effect at the end of business on July 14, marking the end of his role as CFO and Key Managerial Personnel. The reason provided for his departure is the pursuit of 'better prospects.'

Earlier this year, on March 2, LIC had communicated to the stock exchanges that Agrawal's tenure had been extended for an additional year, now set to last until March 1, 2027. The official statement noted, '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.'

As of the March 2026 quarter, LIC holds approximately 10.80% of shares in Rajesh Exports, a position it has maintained without any transactions since at least September 2023. In his resignation letter, Agrawal expressed, '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.' He also expressed gratitude for the opportunities and support he received during his time at LIC, wishing the organization continued success.

LIC acknowledged Agrawal's contributions, stating, '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 his tenure at LIC, Agrawal spent over 12 years at Reliance Nippon Life Insurance and held significant positions at ICICI Prudential Life Insurance. He joined LIC in March 2022, during a pivotal time as the insurer prepared for its stock market launch.