Usha Sangwan made history in 2013 when she became the first-ever woman Managing Director of LIC. She steadily climbed the corporate ladder. She joined the government-backed Life Insurance Corporation of India (LIC) as a Direct Recruit Officer in 1981 and became MD in 2013.
After working for over 35 years, Sangwan retired from LIC in 2018. Today, LIC has a market cap of Rs 5.79 lakh crore. Sangwan is the daughter of India's oldest billionaire, Lachhman Das Mittal (93). According to Forbes, his father, who founded Sonalika Group in 1969, has a real-time net worth of Rs 47923 crore.
Sangwan currently works as an independent director in several companies including Tata Motors, Torrent Power, Tata Technologies and Axis Bank boards. She has also served on the Boards of several national and international companies. She was featured in Forbes List of 50 Most Powerful Business Women in Asia in 2015.
Born in Punjab, Sangwan completed her primary education at Government Model Middle School in Chandigarh. She holds a master’s degree in Economics from Panjab University and a Post Graduate Diploma in Human Resource Management from IGNOU. She is a licentiate from the Insurance Institute of India.
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She has worked in all core areas of life insurance including Marketing, Personnel, Operations, Housing Finance, Group Business and others. She is married to Narender Sangwan, a retired Chief Commissioner of Income Tax. The couple has two children -- a son and a daughter.
