Change in Statutory Auditors – General Insurance Corporation of India

Outgoing Auditor

Name of the Resigning Firm: Not Specified

Reason for Resignation: Not Specified

Effective Date of Resignation: Not Specified

Date of Resignation Letter: Not Specified

Duration in Role (if available): Not Specified

Board’s Acknowledgment / Statement: Not Specified

Replacement Appointed

The Board of Directors of the Corporation, via a circular resolution effected on 1st October 2026, noted the appointment and approved the remuneration of the Joint Statutory Auditors appointed by the Comptroller and Auditor General of India (C&AG) for the FY 2026-27.

Incoming Auditor

Two firms were appointed as Joint Statutory Auditors:

First Firm:

  • Name of the New Audit Firm: M/s S H B A & CO LLP
  • Firm Registration Number (FRN): 101046W/W100063
  • Term of Appointment and Validity: FY 2026-2027
  • Date of Appointment: Appointed by the Comptroller and Auditor General of India (C&AG) vide letter dated 8th September 2026.
  • Brief Profile:
  • Established in 1987.
  • An Indian professional services firm of Chartered Accountants with pan-India presence.
  • Offices at Mumbai, Thane, Ahmedabad, Bengaluru, Pune, Delhi, and Vadodara.
  • The firm has 10 partners with knowledge in various areas of practice.
  • Services provided include Statutory Audit, Limited Reviews for listed companies, Special Purpose Audit, Internal Audit, Concurrent Audit, Tax Audit, Transfer Pricing Audit, and certifications under various statutes.
  • Holds a peer review certificate issued by the Institute of Chartered Accountants of India (ICAI).

Second Firm:

  • Name of the New Audit Firm: M/s S A R A & Associates
  • Firm Registration Number (FRN): 120927W
  • Term of Appointment and Validity: FY 2026-2027
  • Date of Appointment: Appointed by the Comptroller and Auditor General of India (C&AG) vide letter dated 8th September 2026.
  • Brief Profile:
  • A Partnership firm engaged in providing various professional services.
  • Classified as a category–I Professional Firm of Practicing Chartered Accountants per ICAI classification.
  • Expertise areas include Statutory Audits, Internal and System Audits, Bank Audits, PSU's Audits, Income Tax, International Tax, Transfer Pricing, Tax Planning, Goods and Service Tax, VAT, Service Tax, Restructuring, Management Consultancy, Finance, Corporate Law, Valuation, Mergers and Acquisitions.
  • The firm is committed to providing services with the highest level of commitment, ethics, integrity, and quality.
  • The Peer Review of the firm has been conducted by the Peer Review Board of ICAI, New Delhi, and a Peer Review Certificate has been granted.

Regulatory Compliance Statement (SEBI LODR, Circulars)

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The required details were provided as per SEBI Master Circular no. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30th January 2026.

Board / Committee Meeting Details

Name of the Meeting: Board of Directors circular resolution

Date of the Meeting: 1st October 2026

Resolutions or Approvals: The resolution noted the appointment and approved the remuneration of the Joint Statutory Auditors.

Other Corporate Information

The signed disclosure was submitted by Satheesh Kumar, Company Secretary & Compliance Officer, on 1st October 2026 at 21:21:40 IST.