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LIC CFO Sunil Agrawal resigns, cites 'better prospects'
25 Jun 2026

Sunil Agrawal, the Chief Financial Officer (CFO) of Life Insurance Corporation of India (LIC), has resigned from his position. The development was announced in a regulatory filing.

Agrawal's resignation will be effective from the end of business hours on July 14. He will cease to hold office as the CFO and Key Managerial Personnel of LIC.

The reason cited for his departure is "better prospects."

Agrawal's extensive experience in insurance sector
Unexpected departure

Agrawal joined LIC in March 2022, a pivotal time for the insurer as it prepared for its stock market debut.

Prior to his stint at LIC, he spent over 12 years with Reliance Nippon Life Insurance and held leadership positions at ICICI Prudential Life Insurance.

Notably, just months ago, on March 2, LIC had announced an extension of Agrawal's term by another year until March 1, 2027.

However, he has now chosen to resign well ahead of this extended term.

Agrawal expresses gratitude for his time at LIC
Formal farewell

In his resignation letter, Agrawal expressed gratitude for the opportunities and guidance received during his tenure. He requested to be relieved of his responsibilities by July 14, 2026.

He also wished for the continued success of LIC in the future.

Responding to his departure, LIC acknowledged Agrawal's significant contributions and wished him well in his future endeavors.

FY26 financials under Agrawal
Fact

Under Agrawal's leadership, LIC witnessed a 19.25% year-on-year increase in standalone net profit to ₹57,419 crore in FY26 from ₹48,151 crore in FY25. The total premium income also grew by 9.80% to ₹5,35,984 crore in FY26 from ₹4,88,148 crore in the previous fiscal year.