Hitesh Joshi, CMD, GIC Re
Joshi has been serving as the acting CMD of GIC Re since Oct 1.The post has fallen vacant after N Ramaswamy retired from the company since Sep 30.
The government on Tuesday has appointed Hitesh Joshi, 57, as the new CMD of GIC Re, the ninth largest reinsurer in the world.
The Appointments Committee of Cabinet(ACC) had cleared the appointment of Joshi on June 12.
Joshi said, “It is an honour to lead GIC Re and exciting to helm it when the global reinsurance industry alongside Indian re-insurance market is undergoing significant transformation. I look forward to working closely with the team at GIC Re to further strengthen our market leadership, enhance our global footprint and continue delivering value to our stakeholders.
Joshi has been serving as the acting CMD of GIC Re since Oct 1. The post has fallen vacant after N Ramaswamy retired from the post on Sep 30.
Over the course of his career, he has also handled diverse responsibilities across domestic and international reinsurance business, retrocession, finance, internal audit, credit rating, investor relations and budgetary control.
Joshi is a post-graduate in Accountancy from Mumbai University and holds a Master’s degree in Financial Management from the Jamnalal Bajaj Institute.
Earlier, the FSIB had selected Joshi, senior most executive director of GIC Re as the new CMD of Mumbai based state owned reinsurer.
Joshi, known for his tough underwring skills, joined GIC Re in 1991 and will be retiring in Sept end, 2028.