T.C. Suseel Kumar, a Malayali veteran of India’s insurance sector and former MD of LIC has been appointed as an independent director at Life Insurance Corporation Housing Finance Ltd. The appointment is for a five-year term, according to recent filings.
Kumar retired in 2021 as managing director of Life Insurance Corporation (LIC) , where he began his career way back in 1984. With this new position, he returns to the financial sector’s boardroom, this time in the housing finance space—an area that’s been in focus amid changing interest rate cycles and evolving borrower demand.
Hailing from Palakkad, Kerala, Kumar completed his graduation in Economics from Victoria College, Palakkad, finishing with a university rank. He joined LIC at the age of 23 and spent over three decades in the organisation, working in various senior positions across the country.
Over the years, his roles spanned administration, operations, and strategy, ultimately leading to his appointment as LIC’s Managing Director. His career path reflects the typical arc of a public sector rise—slow, steady, and grounded in field-level experience.
Suseel Kumar was also part of the board of the Bombay Stock Exchange—one of the oldest stock exchanges in Asia. After Dr K. Kasturirangan, he was the first Malayali to hold a director post at BSE. His role at BSE was viewed as significant, particularly for bringing regional representation into the national finance conversation.
He is also known in Kerala’s BFSI community for his repeated role as a jury member at the Dhanam BFSI Summit and Awards Night.
While there has been no indication of policy shifts linked to this appointment, some in the sector believe that bringing back a seasoned public sector executive could suggest a renewed emphasis on governance and internal rigour.
LIC Housing Finance, one of India’s major home loan players, has seen steady growth, but also faces increasing competition from private lenders. Whether Kumar’s appointment leads to strategic changes or remains purely supervisory is something industry watchers are likely to keep an eye on in the coming months.