Shrivastava, who is a Key Managerial Personnel (KMP) of LIC, will cease to hold the position of CFO upon superannuation. The company said the cessation is due to retirement.
LIC also informed the exchanges that four other senior management personnel will superannuate on September 30 after the close of office hours.
The officials are Rashmi Bhatnagar, Director, Zonal Training Centre, Bhopal; Vandana Sinha, Executive Director (Customer Relationship Management/Claims/Annuities), Central Office, Mumbai; Surendra Singh Chaplot, Executive Director (Business Development/Bima Sakhi), Central Office, Mumbai; and Vivek Paul, Director, Management Development Centre, Mumbai.
The development follows the recent exit of LIC Managing Director Dinesh Pant, who took voluntary retirement from the insurer with effect from the close of office hours on September 24, 2026. Pant had been appointed as Whole-Time Member (Actuary) at the Insurance Regulatory and Development Authority of India (IRDAI) by the Department of Financial Services in June.
He is expected to take charge of the actuarial department at IRDAI. Pant had spent more than 37 years with LIC and rose through the ranks to become Managing Director.
Separately, former New India Assurance chairman-cum-managing director Girija Subramanian has also been appointed as Whole-Time Member (Distribution) at IRDAI. Both Pant’s and Subramanian’s appointments were notified by the Department of Financial Services on June 15.Shares of LIC ended about 1% higher at ₹394 on Wednesday, September 30, ahead of the CFO retiring announcement. The stock has declined nearly 8% so far in 2026 and 12.5% over the last 12 months.