Mr. Vinay Sah has been appointed as Chief Executive Officer and Managing Director of LIC Housing Finance Limited (LIC HFL), one of the largest Housing Finance companies of India. Mr. Sah held the position in the place of the former MD and CEO of the company, Smt. Sunita Sharma, after she gave her resignation.
Prior to the appointment as a CEO and MD of LIC HFL, Mr. Sah was serving as Executive Director of Marketing/Product Development with LIC of India. He has more than 30 years of experience in the field of insurance and business management. He has been a Non-Executive Independent Director of Kesoram Industries Ltd. since November 3, 2011. He holds a Master’s Degree, M. Sc. in Statistics from Lucknow University, India. Mr. Vinay Sah serves as Zonal Manager Incharge for Zonal Office Mumbai at Life Insurance Corporation of India and as a Zonal Manager of Life Insurance Corporation of India, East Central Zone, India covering the states of Bihar, Jharkhand and Orissa and as Zonal Manager in-charge of Western Zone covering the states of Maharashtra, Goa & Gujarat.
The shares on Bombay Stock exchange (BSE) also showed hike of 0.38%, after this assessment, to Rs.632 as compared to the previous close of Rs. 629.6 with the total number of shares traded 61889 in over 1357 trades in the entire day.
Mr. Sah has been with LIC for many years serving in the various departments like marketing, IT, personnel and administration. He has given LIC the new heights through his great leadership. He also helped LIC of India achieving its First Premium Income target for 2016-17 in the month of February 2017.
The LIC Housing Finance Limited is headquartered at Mumbai, Incorporated on 19th June 1989 under the Companies Act, 1956. The Company was promoted by LIC of India and went public in the year 1994. The main objective of the Company is providing long term finance to individuals for purchase or construction of houses or flats for residential purpose or repair and renovation of existing flat or houses. The Company also provides finance on existing property for business or personal needs and also gives loans to professionals for purchase or construction of Clinics / Nursing Homes / Diagnostic Centres / Office Space and also for purchase of equipments. The Company also provides long-term finance to persons engaged in the business of construction of houses or flats for residential purpose and to be sold by them.