The Government of India has approved the appointment of Hitesh Rameshchandra Joshi as Chairman and Managing Director (CMD) of General Insurance Corporation of India (GIC Re), according to a stock exchange filing.
The appointment, conveyed by the Ministry of Finance, took effect on June 16. He will hold the position until his superannuation on September 30, 2028.
Joshi was serving as Executive Director at GIC Re before his appointment. In that role, he oversaw multiple functions, including human resource management, international business operations, information technology, claims, audit and compliance, budgeting, legal, mergers and acquisitions and strategic support functions.
Over the course of his career at the corporation, Joshi has worked across a wide range of functions, including domestic and international reinsurance, retrocession, finance, enterprise risk management, internal audit, credit rating, investor relations and strategic planning. He also served as Executive Assistant to the CMD.
Joshi, a Fellow of the Insurance Institute of India, holds a postgraduate degree in accountancy as well as a master’s degree in financial management.
The appointment comes as GIC Re approved the appointment of Rajesh Laheri as Chief Financial Officer and key managerial person, replacing V Balkrishna.
