GIC of India Appoints Hitesh Joshi as Chairman-cum-Managing Director
Veteran insurance professional to lead General Insurance Corporation of India until September 2028
The Central Government has approved the appointment of Hitesh Rameshchandra Joshi as the new Chairman-cum-Managing Director (CMD) of General Insurance Corporation of India (GIC Re) with effect from June 16, 2026.
According to a communication issued by the Ministry of Finance on June 15, 2026, Joshi’s appointment will remain effective until his superannuation on September 30, 2028, or until further orders, whichever is earlier.
Prior to his elevation, Joshi was serving as Executive Director (ED) at GIC Re and has built an extensive career within the organization, spanning several critical functions in the insurance and reinsurance sectors.
The corporation has confirmed that Joshi is not related to any director on the Board and is not debarred from holding the office of director by any order of the Securities and Exchange Board of India (SEBI) or any other authority. He also does not hold any equity shares or securities in the corporation.
A highly qualified insurance professional, Joshi holds a postgraduate degree in Accountancy from the University of Mumbai and a Master’s degree in Financial Management from the Jamnalal Bajaj Institute of Management Studies (JBIMS). He is also a Fellow of the Insurance Institute of India.
During his long tenure at GIC Re, Joshi has handled a wide range of responsibilities including reinsurance, retrocession, finance, enterprise risk management, budgetary control, strategic planning, internal audit, credit rating, and investor relations. He also served as Executive Assistant to the CMD, gaining valuable leadership and administrative experience.
As Executive Director, he supervised several key verticals such as Human Resource Management, International Business Operations, Information Technology, and Vigilance Compliance. His responsibilities further extended to Claims, Audit & Compliance, Budgeting, Right to Information (RTI), Grievance Redressal, Legal Affairs, Mergers & Acquisitions, Digital Transformation, Business Intelligence Unit (BIU), Actuarial Functions, and Office Support Services.
Industry observers believe Joshi’s extensive experience across operational, financial, and strategic domains will help strengthen GIC Re’s position as India’s premier reinsurer while supporting its global expansion and digital transformation initiatives.
