S B Mathur takes over as chairman of LIC

Our Banking Bureau
17 August 2002

Mumbai: Sunil Behari Mathur has taken over as the chairman of the Life Insurance Corporation of India (LIC).

Mathur is a qualified chartered accountant. He joined LIC in May 1967 as a direct recruit officer. Prior to his taking charge as the chairman, Mathur was the executive director in charge of marketing and international operations.

He had earlier held various prestigious positions in LIC from senior divisional manager, in charge of the Gwalior division, to chief of corporate planning at the central office, general manager of LIC International EC, Bahrain, zonal manager in-charge of the western zone, before taking charge as executive director.

During his tenure as general manager LIC International EC, an offshore subsidiary of LIC, from June 1998 to December 2000, the companys asset base increased from $24 million to $54 million. The company also expanded its operations in Qatar and Dubai 10 years after commencement of operations in the Gulf in June 1989.

Under his leadership, the western zone, LICs largest zone, has shown unprecedented growth in business with total first premium income, registering an increase of around 500 per cent in fiscal 2001-02. The zone has also excelled in customer servicing and application of technology and is operating at the lowest cost ratio in LIC.

Mathur was sponsored by USAID for a training programme on housing finance at the Wharton Business School, Philadelphia, in April-May 1992. He has also attended a programme on globalisation, technology and management of change conducted by the Indian Institute of Management, Bangalore, jointly with Sloan Business School, MIT, Boston, in April-May 1997.