The Ministry of Finance has approved the entrustment of financial and administrative powers and functions of the Chairman-cum-Managing Director (CMD) of General Insurance Corporation (GIC-Re) to Hitesh Ramesh Chandra Joshi, effective October 1, 2025. Joshi, currently an Executive Director (ED) at GIC-Re, will hold the position for a period of three months or until a regular CMD is appointed, whichever is earlier.
Leadership Transition
Hitesh Ramesh Chandra Joshi, previously the Executive Director (ED) of General Insurance Corporation of India (GIC-Re), has been appointed to take on the responsibilities of Chairman-cum-Managing Director (CMD). This decision, effective from October 1, 2025, comes as per the Ministry of Finance’s directive.
Appointment Details
Joshi’s appointment as CMD is for a term of three months. This term will either conclude after the specified period or upon the appointment of a permanent CMD, whichever comes first. The official communication regarding this appointment was issued on October 24, 2025.
Executive Profile
Hitesh R. Joshi holds a Master’s degree in Financial Management from the Jamnalal Bajaj Institute of Management Studies and is a Fellow of the Insurance Institute of India. He has held key roles in reinsurance, retrocession, finance, and investor relations. As Executive Director, he oversaw International Business Operations, Human Resources, Information Technology, and Actuarial functions.
Source: BSE
