NEW DELHI: Vijay Kumar Sharma has taken charge as Chairman of Life Insurance Corporation of India here today.
A Post Graduate in the Science faculty, Sharma joined LIC as a Direct Recruit Officer in 1981. He has extensive experience of over 35 years in financial and insurance sectors. Before he became the Managing Director of LIC, he held important positions as Executive Director of Pension and Group Schemes, Zonal Manager In-charge of Southern Zone (Tamilnadu, Kerala) and has also helmed the LIC Housing Finance Ltd.
Among his innumerable achievements, in his earlier days during his stint as a young Senior Divisional Manager Karnal, a rural Division had catapulted to number one position in the country in premium income ahead of all other metro centres. As Executive Director of Pension and Group Schemes, he pioneered the launch of various prestigious pension schemes in the country. As Zonal Manager in-charge of Southern Zone, he successfully turned around its operations and put it on growth trajectory, making it No 1 Zone in 2010. During his tenure LICHFL was adjudged as Best Housing Finance Company 2011 by CNBC-TV 18.
Sharma’s focused leadership, proficiency in inspiring staff performance and developing talent has been hallmark of his functioning. His keen business acumen and expertise in strategising business and product development has been instrumental in many far reaching decisions for the corporation. His varied interests include reading, music and developing people.
Life Insurance Corporation of India is the premier financial institute as well as the largest life insurance company in the world servicing 300 million policyholders. It has staff strength of over one lakh employees and an agency force of over a million. Corporation is managing assets of over Rs 22,00,000 crore. LIC today enjoys market share of 75.48 per cent in number of policies and 72.79 per cent in first Premium Income as on 30th November 2016 in a sector which opened up in the year 2000 and with 23 companies in the fray.