Usha Sangwan facts for kids

Quick facts for kids Usha Sangwan
Managing Director of Life Insurance Corporation of India
Personal details
Born	1958 (age 67–68) Punjab, India
Nationality	India
Parent	Lakshman Das Mittal (father)

Usha Sangwan is a very important business leader from India. She used to be the Managing Director at Life Insurance Corporation of India (LIC), which is India's biggest company for life insurance. She made history in 2013 by becoming the first woman to reach this high position.

Usha Sangwan is the daughter of Lakshman Das Mittal, who started the Sonalika Group. She worked at LIC for a long time, 37 years, from 1981 until 2018. After that, in 2023, she joined Tata Motors as an independent director, which means she helps guide the company.

Education and Background

Usha Sangwan studied at Panjab University. She earned a Master's degree in two important subjects: Economics and Human resources. These studies helped her understand how businesses work and how to manage people.

Her Career Journey

Usha Sangwan has had a very successful career in the business world. She worked with many different parts of the Life Insurance Corporation of India.

Leading LIC Housing Finance

One of her big roles was at LIC Housing Finance. This company is a part of LIC that helps people get loans to buy homes. Usha Sangwan played a key part in making this company much stronger.

In 2004, she helped the company raise a lot of money, about $29.85 million, from investors around the world. This money helped the company grow. She also made changes to how the company worked. She separated the marketing team from the team that checks risks for loans. She also started setting prices for loans based on how risky they were. These changes helped the company become more successful.

Role at Axis Bank

Besides her work at LIC, Usha Sangwan is also one of the directors at Axis Bank. This means she helps make important decisions for one of India's major banks. Her experience in finance and leadership makes her a valuable member of their team.

Here, the Chairman of LIC, Shri S.K. Roy, is giving a large dividend cheque to the Union Minister for Finance, Shri Arun Jaitley, in 2014. Usha Sangwan, along with other Managing Directors of LIC, is also present.