Shri Hitesh Rameshchandra Joshi Recommended as CMD of GIC-Re by FSIB

New Delhi, 24 Feb 2026: The Financial Services Institutions Bureau (FSIB) has recommended Shri Hitesh Rameshchandra Joshi for the position of Chairman-cum-Managing Director (CMD) of GIC Re, following a rigorous evaluation of eligible candidates.

On 24 February 2026, FSIB conducted an interface with five eligible candidates for the top leadership role at GIC Re, assessing their experience, performance, and suitability for steering India’s premier reinsurance company. Based on this comprehensive review, Shri Joshi emerged as the recommended candidate.

Also Read: Pushp Kumar Nayar Recommended as BPCL Director (HR) by PESB

About Shri Hitesh Rameshchandra Joshi

Shri 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 at GIC Re, Shri Joshi has handled a diverse range of assignments across key functions, including:

Reinsurance (domestic and international inward business)
Retrocession
Finance & Budgetary Control
Enterprise Risk Management
Strategic Planning & Internal Audit
Credit Rating & Investor Relations
Served as Executive Assistant to the Chairman & MD

As Executive Director, he oversaw multiple departments including Human Resource Management, International Business Operations, IT, Vigilance, Claims, Audit & Compliance, Budgeting, RTI, Grievance Redressal, Legal, Mergers & Acquisitions, Digital Team, Business Intelligence Unit, Actuary, and Office Support Services.

Shri Joshi has also been holding the additional charge of CMD since 1st October 2025, demonstrating his capability to lead the Corporation effectively.

This recommendation by FSIB reinforces GIC Re’s focus on strong governance, strategic growth, and leadership continuity, crucial for driving innovation and stability in India’s reinsurance sector.