General Insurance Corporation of India has approved the appointment of Rajesh Laheri as chief financial officer and key managerial person, replacing V. Balkrishna, according to an exchange announcement from 15 May.
Laheri is currently the deputy general manager and will assume the new role on a date to be announced by the state-owned reinsurer.
He has been with GIC Re for over 28 years, starting in April 1998 as a direct recruit officer, and has worked across several functions, including final accounts and property reinsurance. He was also posted to GIC Re’s London branch for six years, where he handled finance, IT, and other functions. Most recently, he has been in charge of the corporation’s General Accounts and Taxation Department.
The appointment was approved by GIC Re’s board on 15 May, alongside the acceptance of Balkrishna’s resignation as CFO following his retirement under the company’s Voluntary Retirement Scheme.
The CFO change comes as GIC Re continues to support domestic risk capacity in India, including through its participation in the Bharat Maritime Insurance Pool. The reinsurer is contributing ₹4bn (US$41.55m) of the pool’s ₹9.27bn initial underwriting capacity, which is backed by a US$1.4bn sovereign guarantee for large losses after the pool’s own resources are exhausted.
