(Appointed on 18.06.2025) Shri Ratnakar Patnaik has taken charge as Managing Director of Life Insurance Corporation of India on 1st, June 2025. Prior to taking charge as the Managing Director, he was Executive Director (Investment- Front Office) & Chief Investment Officer.
Shri Patnaik joined life Insurance Corporation of India in September 1990 as Assistant Administrative Officer. He has worked across four Zones of the Corporation in various capacities including 10 years as Branch-In-Charge.
During his long stint of 22 years in conventional marketing, he was Marketing Manager of Asansol & KMDO-1 Divisions under EZ. He headed Indore and Jamshedpur Divisions as Senior Divisional Manager before taking charge of the Chief Life Insurance Advisor (CLIA) Channel of Eastern Zone at Kolkata as Regional Manager (Marketing – CLIA). On promotion to the cadre of Zonal Manager, he started his tenure in Investment- Front Office in May 2021 as Chief (Investment), Central Office, Mumbai. Thereafter, on promotion to the cadre of Zonal Manager (Selection), he took charge as Executive Director (Investment- Front Office) & Chief Investment Officer of the Corporation in April 2023.
Shri Patnaik is a post graduate in Public Administration and has majors in Physics in graduation. He is a Fellow of Insurance Institute of India and holds a Diploma in Health Insurance from the same Institute.
Shri Patnaik strongly believes in Team Work and has empathetic people sense. He takes avid Interest in sports, movies and meeting people.