Life Insurance Corporation (LIC) on Tuesday said it has elevated Tablesh Pandey, executive director of the company, as its managing director. His appointment is effective from April 1, 2023, according to a regulatory filing. Pandey will replace present managing director B C Patnaik, it said. Pursuant to a government notification, "Tablesh Pandey, Executive Director, LIC of India, has been appointed as Managing Director, LIC vice B C Patnaik with effect from the date of assumption of charge of the office on or after 1st April, 2023...," the company said. LIC presently has four managing directors.