GIC Re Appoints Hitesh Joshi as New CMD

New Delhi, Jun 17 (PTI) General Insurance Corporation of India (GIC Re) on Wednesday announced the appointment of Hitesh Rameshchandra Joshi as its Chairman-cum-Managing Director (CMD).

He officially took over charges on June 16, according to a statement by the reinsurer.

Before his full appointment, Joshi served as an Executive Director of the state-owned reinsurer and held the interim charge of CMD, effective October 1, 2025.

"The Ministry of Finance, in its letter dated June 15, 2026, approved the appointment of Hitesh Rameshchandra Joshi, Executive Director (ED), GIC Re, as Chairman-cum-Managing Director (CMD), w.e.f. the date of his assumption of charge of the post till the date of his superannuation (i.e. Sept 30, 2028), or until further orders, whichever is earlier," the general insurance company said in a regulatory filing.


The post fell vacant following the completion of Narayanan Ramaswamy's two-year tenure as CMD.

With over three decades of experience in the insurance and reinsurance sector, Joshi brings deep domain expertise and leadership experience to the role.

On his appointment, Joshi said, "I look forward to working closely with the team at GIC Re to further strengthen our market leadership, enhance our global footprint and continue delivering value to our stakeholders. Having served as the interim CMD since October 2025, I have gained valuable insights into the organisation's priorities and dynamics, which will help guide our strategic decisions going forward."

He holds a post-graduate degree in Accountancy from the University of Mumbai and a Master's degree in Financial Management from Jamnalal Bajaj Institute of Management Studies (JBIMS), Mumbai.