By THE NEWSMAN OF INDIA.COM|New Delhi: The Department of Financial Services (DFS), Ministry of Finance, has approved the appointment of Hitesh Rameshchandra Joshi as Chairman-cum-Managing Director (CMD) of the General Insurance Corporation of India (GIC Re), India’s national reinsurer, effective June 16th, 2026, a role he had held in an interim capacity since October 1st, 2025.

According to an official order issued by the Ministry, Joshi will hold the position from the date he assumes charge until September 30, 2028, the date of his superannuation, or until further orders, whichever is earlier.

The Ministry has directed GIC Re to furnish a copy of the Board’s approval for the appointment along with details regarding the date on which Joshi formally assumes charge of the office.

A seasoned insurance professional with extensive experience in the reinsurance sector, Joshi was serving as Executive Director of GIC Re prior to his elevation. He had also been entrusted with the additional charge of Chairman-cum-Managing Director, during which he provided leadership and continuity in the organization’s strategic and operational functions.

His appointment comes at a crucial time for GIC Re as the corporation continues to strengthen its domestic and global presence amid evolving risks and opportunities in the insurance and reinsurance landscape. Industry observers view the appointment as a recognition of his deep domain expertise, leadership capabilities, and long association with the organization.

As CMD, Joshi is expected to steer GIC Re’s growth strategy, enhance its market position, and further reinforce its role as a key pillar of India’s insurance ecosystem while expanding its international reinsurance footprint.

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