Chennai, June 9 (IANS) The Central Government on Wednesday extended Life Insurance Corporation of India (LIC) Chairman M.R. Kumar's term till March 13, 2022.

He was set to retire on June 30, 2021.

According to the order, Kumar's term is extended till 13.3.2022, the date on which he completes three years as LIC Chairman or until further orders, which ever is earlier.

Kumar's tenure extension comes in the wake of the central government deciding to dilute some portion of its holding in the LIC.

According to a source, lot of work with respect to LIC stake dilution is taking place including actuarial work.

--IANS vj/skp/