S B Mathur, former Chairman, Life Insurance Corporation, has taken over a new role as Secretary-General of Life Insurance Council, an association representing 18 life insurance companies, effective from Friday.

Mr. Mathur has taken charge from SV Mony, who headed the Council for the past 40 months.

Mr. Mathur served as the Chairman of LIC for 26-months from August 2002.
After retiring from LIC, the Indian government nominated him as the Administrator of the Specified Undertaking of Unit Trust of India (SUUTI) in December 2004.

Mathur is also the non-executive Chairman of the National Stock Exchange (NSE).

At present, he is on the boards of leading corporates and financial services companies including IL&FS, ITC, HDIL, Grasim, Indian Railway Catering and Tourism Corporation.

A qualified chartered accountant and cost accountant, Mathur retired from Life Insurance Corporation of India (LIC) in October 2004 as its chairman, having joined the organization as a direct recruit in 1967. He held various positions as senior divisional manager of Gwalior division, chief of corporate planning, general manager of LIC (international) E.C., zonal manager in charge of western zone and executive director.

Mathur took charge as chairman of LIC at a time when the insurance sector had just opened up. He has a successful track record of introducing new products in the insurance sector in a competitive environment.