GIC Re Share Price in Focus; Ministry of Finance Approves Hitesh Rameshchandra Joshi’s Appointment as CMD

General Insurance Corporation of India (GIC Re) has named Hitesh Rameshchandra Joshi as its Chairman-cum-Managing Director (CMD), as per an exchange filing dated June 18, 2026.  

The appointment took effect on 16 June 2026 after approval from the Central Government through the Ministry of Finance.  

The company said he will hold the position until 30 September 2028, the date of his retirement, or until further government orders. 

Internal Candidate Elevated 

As per the filing, Joshi has been associated with GIC Re for several years and has worked across multiple business functions.  

His experience includes domestic and overseas reinsurance, retrocession, finance, enterprise risk management, strategic planning, internal audit and investor relations.  

He has also worked as Executive Assistant to the corporation's Chairman and Managing Director. 

Wide Administrative Responsibilities 

Before becoming CMD, Joshi served as Executive Director at GIC Re. He was responsible for human resources, international business operations, information technology, claims, budgeting, legal affairs and audit functions.  

His responsibilities also covered vigilance compliance, grievance handling, mergers and acquisitions, actuarial operations, and the business intelligence unit. 

Educational Qualifications of Hitesh Rameshchandra Joshi  

Joshi holds a postgraduate degree in Accountancy from Mumbai University and a Master's degree in Financial Management from Jamnalal Bajaj Institute of Management Studies. He is also a Fellow of the Insurance Institute of India.  

The Ministry of Finance issued the approval letter on 15 June 2026, which was received by the corporation on 16 June. 

Other Details in Filing 

The regulatory filing stated that Joshi is not related to any member of the existing board of directors.  

The company also said he has not been debarred by SEBI or any other authority from holding the office of director. It further disclosed that he does not hold any equity shares or securities of GIC Re. 

Read More: RailTel Corporation Share Price in Focus; Secures ₹52.57 Crore Disaster Recovery IT Infrastructure Order! 

General Insurance Corporation of India (GIC Re) Share Price Performance  

As of June 18, 2026, 11:17 am, General Insurance Corporation of India (GIC Re) share price was trading at ₹359.85, up 1.83% from the previous closing price. 

Conclusion 

Following the government's approval, Hitesh Joshi has assumed charge as Chairman-cum-Managing Director of GIC Re, with his tenure scheduled to run until September 2028. 

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