Govt announces key leadership changes in insurance sector

MUMBAI: The government on Wednesday announced a series of key appointments in the insurance sector, including that of Hitesh Rameshchandra Joshi as chairman-cum-managing director of General Insurance Corporation of India (GIC Re), and appointments and reappointments at the Insurance Regulatory and Development Authority of India (IRDAI).

Dinesh Pant, managing director at Life Insurance Corporation of India, has been appointed whole-time member (actuary) at IRDAI, while Girija Subramanian, chairman-cum-managing director of The New India Assurance Company Limited, has been appointed whole-time member (distribution). Both appointments are for five years.

The government has also reappointed Deepak Sood as whole-time member (non-life), extending his term by two years until 2028, and Rajay Kumar Sinha as whole-time member (finance and investment) for another two years until 2029, or until they attain the age of 65 years, whichever is earlier.


Separately, Joshi has been appointed chairman-cum-managing director of GIC Re with effect from June 16. He will hold the post until his superannuation on September 30, 2028, or until further orders.

Prior to his elevation, Joshi served as executive director at GIC Re, overseeing functions including human resources, international business, information technology, claims, audit, compliance and legal affairs.