LIC Chairman SK Roy Resigns, 2 Years Short of Completing His Term

The reason for LIC Chairman SK Roy’s resignation is not known yet.

The LIC building at Nariman Point. (Photo: Reuters)

• SK Roy, Chairman of Life Insurance Corporation of India (LIC) resigned from office on Wednesday. Roy wrote to the government, asking to be relieved of his duties from 29 June, reported The Business Standard.
  
  

• Roy took charge in 2013, and has resigned two years before his five-year term ended. The reasons for his resignation are not yet known, said the report.
  
  
• In the last few years, there have been no instances of LIC chairmen stepping down before the completion of their tenure, except prior to 1985, when a chairman took voluntary retirement, the report said.