The Financial Services Institutions Bureau (FSIB) on Tuesday recommended the candidature of Hitesh R Joshi for the position of Chairman & Managing Director (CMD) in General Insurance Corporation of India (GIC Re).
Joshi, who is currently Executive Director with the State-owned reinsurer, has been exercising the financial and administrative powers and functions of CMD of GIC Re since October 1, 2025, after Ramaswamy Narayanan superannuated on September 30, 2025.
FSIB interfaced with 5 eligible candidates for the position of CMD in GIC-Re. Keeping in view their performance in the interface, their overall experience and the extant parameters, the Bureau recommended Joshi for the position, per a Bureau statement. Joshi was elevated as Executive Director with effect from July 09, 2024.
Joshi is a post-graduate in Accountancy from Mumbai University and holds a Master’s Degree in Financial Management from the Jamnalal Bajaj Institute of Management Studies. He is also a Fellow of the Insurance Institute of India.
Over the course of his career in Corporation, Joshi has undertaken a diverse range of assignments across key functions, including reinsurance (both domestic and international inward business), retrocession, finance, Enterprise Risk Management, budgetary control and strategic planning, internal audit, credit rating, investor relations, and also served as Executive Assistant to the Chairman and Managing Director of the Corporation.
Published on February 24, 2026
