Mr. Mathur was Chairman of the Life Insurance
Corporation of India (LIC), the largest life insurance company in India from
August 2002 to October 2004. His tenure coincided the opening of the Insurance
sector, which resulted into the entry of 12 domestic players with strong brands
tying up with leading international insurance companies. Despite intense
competition from the new entrants, LIC continued to be the dominant player in the
life insurance sector. This period was also marked by sharp decline in the
interest rates, which necessitated withdrawal of some of the popular high yield
products and introduction of new schemes. The equity portfolio was leveraged
through secondary market operations and swapping of debt to realize profits and
better asset liability matching.
Post retirement from LIC, The Government of
India appointed Mr. Sunil Behari Mathur as Administrator of the Specified
Undertaking of the Unit Trust of India (SUUTI), the successor of the erstwhile
Unit Trust of India in December 2004, wherein Government had provided financial
support to meet the liabilities under some of the guaranteed high returns
schemes. During the last couple of years, taking advantage of the bullish
economy and the buoyant capital markets, SUUTI divested its large holdings in
equity without leading to volatility in the markets. The fund was managing over
Rs. 42000 crore (around US $ 11 bn) of assets under management as on 19th
December 2007 (having doubled in last three years).
Mr. Mathur is at present the Secretary
General of Life Insurance Council. He was the Ex-Chairman of National Stock
Exchange and an Advisor to National Investment Fund set up by Government of
India. He is also on Board on some leading Corporates.
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