Overview
- Sunil Agrawal submitted his resignation in a letter dated June 24 and will cease to be LIC’s chief financial officer and key managerial personnel at the close of business on July 14, 2026.
- In his letter he said he was stepping down “to pursue better prospects,” thanked the company, and offered to help with the handover while LIC publicly recorded its appreciation.
- LIC had extended Agrawal’s term earlier this year until March 1, 2027, so his exit comes before that extended tenure would have ended.
- Markets reacted quickly to the announcement with LIC shares falling about 3.4% intraday on reports of the resignation.
- Agrawal joined LIC in March 2022 as a high-profile external finance chief after more than a decade as CFO at Reliance Nippon Life, and his departure follows strong FY26 results that included a 19.25% rise in profit after tax to Rs 57,419 crore, leaving investors and the company awaiting a named successor and a managed transition.