Hitesh Ramesh Chandra Joshi has been entrusted with the financial and administrative powers and functions of the Chairman-cum-Managing Director (CMD) of GIC Re by the Department of Financial Services for a further period of three months with effect from January 1, 2026. According to reports from The Hindu BusinessLine, the Competent Authority has approved extension of tenure of powers for a further period of three months or until a regular CMD is appointed, or until further order, whichever is earliest.
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. As reported by The Hindu BusinessLine, in his current role as Executive Director, Joshi oversees multiple areas such as International Business Operations, Human Resources, Information Technology, Office Services, Business Intelligence and Actuarial functions.
The extension ensures continuity in leadership at the state-owned reinsurer during the transition period. According to the DFS communication to the Corporation, the arrangement will remain in place until a permanent appointment is made to the CMD position. This marks over three months that Joshi has been serving in the interim capacity at GIC Re.
