Key Appointment Details

The Ministry of Finance, Government of India, through letter no. eF. No. A-11011/05/2025-Ins.I dated 15th June 2026 (received on 16th June 2026), has approved the appointment of Shri Hitesh Rameshchandra Joshi, Executive Director (ED) of GIC Re, as Chairman-cum-Managing Director (CMD) of GIC Re.

Authority and Effective Dates

The appointment was made under Article 83 of the Articles of Association of the Corporation. The appointment is effective from the date of assumption of charge (16th June 2026) and will continue until:

  • Shri Joshi's superannuation date (30th September 2028), or
  • Until further orders from the Central Government, whichever is earlier.

Director Compliance Status

Shri Hitesh Rameshchandra Joshi:

  • Is not related to any of the existing Directors of the Corporation
  • Is not debarred from holding office of Director by virtue of any SEBI Order or any other authority
  • Does not hold any equity shares or securities in the Corporation

Professional Profile

Shri Hitesh Rameshchandra Joshi's brief profile is provided as per SEBI Master Circular no HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30th January 2026. His qualifications and experience include:

  • Post-graduate in Accountancy from Mumbai University
  • Master's degree in financial management from Jamnalal Bajaj Institute of Management Studies
  • Fellow of the Insurance Institute of India

Career Experience at GIC Re

Shri Joshi has undertaken diverse assignments across key functions including:

  • Reinsurance (domestic and international inward business)
  • Retrocession
  • Finance
  • Enterprise Risk Management
  • Budgetary control and strategic planning
  • Internal audit
  • Credit rating
  • Investor relations
  • Executive Assistant to the Chairman and Managing Director

Responsibilities as Executive Director

In his role as Executive Director, he oversaw multiple areas including:

  • Human Resource Management
  • International Business Operations
  • Information Technology
  • Vigilance Compliance
  • Claims Vertical
  • Audit & Compliance (Internal & CAG)
  • Budgeting
  • Right to Information
  • Grievance Redressal & Complaints
  • Legal
  • Mergers & Acquisitions
  • Digital Team
  • Business Intelligence Unit (BIU)
  • Actuary
  • Office support services