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Board of Directors

Smt. Girija Subramanian holds a bachelor's degree in Statistics. She is a Fellow member of the Insurance Institute of India and also an Associate member of the Chartered Insurance Institute, London. Smt. Subramanian started her career as a Direct Recruit Officer in GIC-Re in 1988. In a career spanning over 34 years, she worked in reinsurance departments across various lines of business, the most prominent ones being Aviation, Life, Health and Property classes.

Smt. Subramanian was the CMD of Agriculture Insurance Co. of India Ltd. (from September 2022) before assuming charge as CMD, The New India Assurance Co. Ltd. She has been nominated on the Board of our company by The New India Assurance Co. Ltd.

Smt. Girija Subramanian

Non-Executive Director

Shri B.S. Rahul holds a master’s degree in finance from Gujarat University. He started his illustrious career in insurance industry as Assistant Administrative Officer (AAO) with GIC-Re in 1989. Prior to taking charge as Chairman-cum-Managing Director of United India Insurance Co. Ltd. on 29th April, 2024 he was serving as General Manager of Agriculture Insurance Company Limited (AICL) from the year 2004.

Throughout his tenure at AICL, he led various pivotal departments, including Pricing, Underwriting, Claims, IT, and Investment. His visionary leadership and strategic acumen played a pivotal role in shaping the company's path, contributing significantly to its growth and success.

Shri B. S. Rahul

Non-Executive Director

Mr. Ramaswamy Narayanan joined GIC as a direct recruit officer in 1988 and over the last three decades, he has been involved in various functions within GIC.

In his association with the reinsurance function, he has handled all the non-life classes like Fire, Engineering, Miscellaneous, Motor, Liability, Aviation, Marine and Agriculture and also most of the territories around the world. While handling the business portfolio in the Indian insurance market, he has handled many challenges in the fast-changing non-tariffed portfolio, which included quoting for and leading many treaties, as well as providing out-of-the-box solutions to clients to cater to both protecting the portfolio as well as providing capital relief.

In his tenure of four and half years as CEO, UK he was involved in handling the operations of the Branch, the newly setup Lloyds syndicate of GIC (GIC 1947) as well as the Corporate Member of GIC.

Back in head office, he was involved in implementing the ambitious "Project Parivartan", an HR initiative, which should prove to be a game changer in GIC, going forward.

Shri Ramaswamy Narayanan

Non-Executive Director & Chairman

Shri Damodharan Neelam (DIN 07759291) B.Sc. (Agriculture) and Diploma in Financial Management, has over 33 years of experience in Banking with Bank of Baroda in various capacities & positions including as General Manager (International Operations), General Manger/Zonal Head (South Zone), Regional Manager &, Asst. General Manger (MSME) – Corporate Office, Branch Head for 6 very large branches of Bank across India. He had also been a Director in the subsidiary Companies of Bank of Baroda and Bank of India. He was also appointed as ED in Bank of India from Feb., 2017 to Nov. 2019 where various assignments like retail banking, credit monitoring, recovery and collection, HRM/HRD matters, ALM Matters were handled by him. Shri Damodharan Neelam had handled Credit Segment of the bank for more than a decade including Policy & Process formulation and in various other capacities. He had also been Non-Executive Director in the Board of New India Assurance Co. Ltd. from August, 2017 to October, 2019.

Shri Damodharan Neelam

INDEPENDENT DIRECTOR

Shri Paul A. Lobo (GM – GIC-Re) holds a B. Com degree from the Mumbai University and MBA (Finance) from IGNOU. He is also a Fellow member of the Insurance Institute of India. Over a career spanning more than 36 years at the General Insurance Corporation of India, he has held various portfolios covering Information Technology, Finance, Marketing, Miscellaneous and Liability Reinsurance, Life Reinsurance, Investment Mid and Back Operations and NPA cell.

Shri Paul A. Lobo

MANAGING DIRECTOR & CEO

He is a fellow and practicing member of the Institute of Chartered Accountants of India and managing partner of M/s. Mayur & Chhajed Chartered Accountants, Mumbai. He also holds Law degree from Government Law College (GLC) Mumbai. Shri Chhajed has also been the president of ICAI for FY 2019-20. Presently he is the chairman of various committees of ICAI and Director in SBI Mutual Fund Trustee Company Pvt. Ltd.

Shri.Prafulla P. Chhajed

Independent Director

Shri Vaijinath M. Gavarshetty - MBA (Finance), has over 33 years of experience in Banking sector with State Bank of India (SBI) in various capacities & positions including as (i) Chief General Manager & Head of Bank’s Real Estate & Housing Finance Business (ii) Zonal Head of one of the largest & most vibrant Zones of SBI (Western Maharashtra) (iii) nominee Director on the Board of a Listed Corporate and also as (iv) Faculty /Trainer in Bank’s apex Training Institute. Shri Vaijinath handled Housing Finance Segment of the bank for more than a decade in various assignments, including in Sales, Processing, Underwriting and also in Policy, Process & Strategy formulation, and in various other capacities such as Field Officer, Branch Manager, Head of a Retail Assets Processing center at Bengaluru, as a controller in Pune Zone, as Business Head at Bank level at SBI’s Corporate Centre Mumbai.

Shri Vaijinath M. Gavarshetty

Independent Director

Shri SathiaJeeva Krishnan, a Chartered Accountant (All India Rank holder), Cost Accountant (All India Rank Holder) and a former IRS Officer has over 35 years of rich industry experience in the field of Account, Audit, Tax & Finance etc.. Shri SathiaJeeva Krishnan has serviced various key posts during his tenure in Tax Department (Direct & Indirect). Presently he is self-employed professional and has been handling many consultancy assignments like M&A Transactions, Taxation related matters etc. He has also served many corporates including BPCL, E & Y India, Ambuja Cement, Reliance energy etc.

Shri Sathia Jeeva Krishnan

Independent Director

Shri Kishore Garimella - M.Sc (Tech) Electronics from Andhra University and PGSM (MBA) – IIM (Bangalore) has over 32 years of experience in Information Technology Industry where he has managed full lifecycle deliveries of multiple medium and large projects and programs for a number of customers, led large System Integration (SI) programs, handled number of consulting engagements which include product conceptualization, information system planning, and merger / acquisition evaluations.

SHRI KISHORE GARIMELLA

Independent Director

Shri Rashmi Raman Singh is the Chairman and Managing Director (CMD) of The Oriental Insurance Company Limited (OICL). He is a direct recruit officer of 1987 batch in The Oriental Insurance Co. Ltd. He brings with him more than 36 years of rich experience in insurance industry. During his tenure, he has served various positions and handled various portfolios including Marketing, Technical & Foreign Operations. He has also worked overseas at Dubai branch of OICL. He had also worked as MD & CEO of Health Insurance TPA (HITPA), held the additional charge as Chief Executive of General Insurance Public Sector Association and also as General Manager & Director of OICL before his elevation as Chairman-cum-Managing Director. He has been nominated on our Board by The Oriental Insurance Company Limited.

Shri Rashmi Raman Singh

Non-Executive Director

Shri Sunil Kakar has over 40 years of experience in Banking, Non-Banking & Insurance sector with Bank of America, IDFC group and Max New York Life Insurance Co. Ltd. In his illustrious career, he has served various key positions including Group CFO of IDFC group & CFO of IDFC Ltd. He was also elevated as MD & CEO of IDFC Ltd. (2017-2022). In his illustrious career, Shri Sunil Kakar has handled various assignments which inter alia includes Business planning, Internal control, Financial controls, branch administrations & operations, Project Management, Market Risk Management, Investments & Treasury, Accounts & Finance, Taxation, Budgetary control, regulatory reporting etc.

Shri Sunil Kakar

Independent Director

Smt. Rani Singh Nair, an IRS officer (1979 batch) is Ex-Chairperson of Central Board of Direct Taxes and Special Secretary to Government of India in 2016. She also holds degree in Certificate Programme in Global Leadership in University of Pennsylvania, USA and IIM, Bengaluru. Smt. Nair has served in many senior positions, both Income Tax department and on deputation to the department of revenue and Expenditure in the Ministry of Finance, and in a regulatory authority viz Pension Fund Regulatory and Development Authority (PFRDA). The Prime Minister’s Award for Excellence in Public Administration (2012-13) was awarded to the Income Tax department for the period that she served as Director General, Directorate of Systems

Smt. Rani Singh Nair

Independent Director

Shri Satyajit Tripathy is Bachelors of Science (Agriculture) from Orissa University of Agriculture and Technology, a post-graduate diploma in Management from Xavier Institute of Management, Bhubaneswar (XIMB) and he is also a member of Insurance Institute of India. He is having 32 years of rich industry experience. He started his career with GIC-Re as Direct Recruit officer of 1988 batch. During his tenure, he has served various positions and handled various portfolios including Investment, Operations, Insurance / Re-insurance etc. He has also served as General Manager & Director of The New India Assurance Co. Ltd. Before his elevation to United India Insurance Co. Ltd. as Chairman-cum-Managing Director.

Shri. Satyajit Tripathy

Non-Executive Director

Shri Hitesh Joshi is a post-graduate in Accounts from Mumbai University and holds Masters in Financial Management from Jamnalal Bajaj Institute of Management Studies. He is also a Fellow of the Insurance Institute of India. He has joined General Insurance Corporation of India in July, 1990 and has served different departments of the Corporation in various capacities. He has handled assignments pertaining to Investment Accounts, Internal Audit, Budgetary Control, Property & Aviation Underwriting, Claims, Finance and Retrocession.

Shri. Hitesh Joshi

Non-Executive Director

Smt. Rajeshwari Singh Muni has taken charge as Chairman-cum-Managing Director of National Insurance Company Limited on 1st September 2023. Prior to taking charge as CMD, she was General Manager & Director of United India Insurance Company Limited w.e.f. 18th November 2022. She is a Science Graduate and also holds MBA (HR and Finance) and Associate from Insurance Institute of India, Mumbai. She commenced her career at General Insurance Corporation of India in the year 1987 and moved to Agriculture Insurance Company of India Limited (AICL) in 2004. She has 35 years of experience and expertise in dealing Crop Insurance in various capacities. A long part of which was heading the agriculturally predominant States of Andhra Pradesh, Telengana and Madhya Pradesh as Regional Manager and also overseeing of all the five Southern States as Deputy General Manager. Upon elevation as General Manager in the year 2019, she handled various portfolios at AICL, Head Office at New Delhi and performed exceedingly well in all spheres. She is a keen learner coupled with traits of sincerity, honesty, dedication, commitment which have been the key to her success in reaching the heights.

Smt. Rajeshwari Singh Muni

Non-Executive Director

B. Com from the University of Mumbai, Chartered Accountant has 30 years of Experience in Accounting & Finance, Taxation and Corporate Advisory Services. He is Member of Audit Advisory Committee of United Nations Development Programme (UNDP), New York and also the Member of Appellate Authority of the Institute of Chartered Accountants of India (ICAI). He was elected as the President of ICAI during 2005-06 and also as Vice President of ICAI during 2004-05. He has been an elected Member of the Central Council of the ICAI from 1998 to 2007. Thereafter he has been the President of Confederation of Asian & Pacific Accountants (CAPA) during 2007-09 and was Deputy President of CAPA during 2005-07. He was a Board Member of the International Federation of Accountants from 2005-08. He has been associated with M/s Khimji Kunverji & Co. as a Senior Partner since 1982. He has served as a Member of various advisory and expert committees at National and International Levels, including as a Member of the Steering Committee for comprehensive review of Governance and Oversight within the United Nations.

Shri Kamlesh Shivji Vikamsey

Independent Director

B. Com, LL.B. from University of Mumbai, LL.M. from Northwestern University, School of Law, Chicago is a Managing Partner of Dave & Girish & Co, a Law Firm focusing on International Finance and Corporate Laws. She is also Advisor to various Banks and Financial Institutions.

She is the Member of Bar Council of Maharashtra and Goa, Bombay Bar Association, International Swaps and Derivatives Association, International Bar Association, New York State Bar Association, Inter Pacific Bar Association and Asia Pacific Loan Market Association.

She had worked with American Bar Foundation in the field of Investment Banking, conflicts and globalization of the legal profession and also worked with International Law Firm, Sedwick, Deetert Moran and Arnold.

She is one of the highly recommended lawyers for Project Finance & Corporate, Mergers & Acquisitions transactions, restructuring and insolvency practitioner and corporate transactions practitioner in India in Global Counsel 3000.

She has been ranked as a Leading Individual in Banking & Finance, Corporate, Mergers & Acquisitions and Dispute Resolution by Legal 500 and as Leading Lawyer by Asia law Profiles.

Smt. Mona Bhide

Independent Director

Shri N. S. R. Chandra Prasad, a Commerce Graduate and Fellow of Insurance Institute of India, is the ex CMD of National Insurance Company Ltd. He is a Direct Recruit Officer of 1978 batch (12 months training from June 1978 – June 1979 in GIC Re). After his induction training in GIC Re, he joined New India Assurance Company where he served various Departments in different capacities. Shri N. S. R. Chandra Prasad was appointed as Managing Director & CEO of Prestige Assurance PLC, Lagos from June 2002 to March, 2006. Shri N. S. R. Chandra Prasad possess 36 years of rich experience of service in non-life insurance sector where he held number of key positions in Marketing operations, Technical, Reinsurance, Customer Redressal, Personnel & Training both in India and Overseas.

Shri N. S. R. Chandra Prasad

Independent Director

Shri. Ajit Kumar Saxena is a Master of Vety. Science and LL.B. is the ex-Chairman cum Managing Director of The Oriental Insurance Company Ltd.. He is also an Associate Member of the Insurance Institute of India. Shri Ajit Kumar Saxena is a Direct Recruit Officer of the 1979 batch in special cadre. He started his career with The New India Assurance Co. Ltd. where he worked in various positions in India and abroad. He is having experience of more than 37 years in Non-life Industry. He was also in charge of Philippines Operations of The New India Assurance Company Limited from 1994 to 1999. He was also posted as General Manager at Kenindia Assurance Company from 2002 to 2004.

Shri. Ajit Kumar Saxena

Independent Director

Shri G. Srinivasanis a Commerce Graduate from Madras University, and an Associate of Institute of Cost and Management Accountants of India, and a Fellow of Insurance Institute of India. Heis ex-CMD of The New India Assurance Company Limited. Prior to his joining of The New India Assurance Company Ltd., he was the CMD of The United India Insurance Company Limited. He is the longest serving CMD of Public Sector Insurance Companies. He has more than 38 years of experience in General Insurance Industry both in India and abroad and during his tenure he has been conferred with number of national and international awards for his extraordinary achievements and for taking the organization in each of his assignment at new heights.

Shri.G.Srinivasan

Independent Director

Shri Devesh Srivastava is a Chairman cum Managing Director of GIC-Re. He is a direct recruit officer of the 1987 batch and a post-graduate in Physics and also post-graduate in Management, majoring in Marketing with a Gold Medal from the Management Development Institute (MDI) Gurgaon. He began his career with Oriental Insurance Company Limited and subsequently in 1999 he was transferred to General Insurance Corporation of India (GIC-Re). At GIC-Re he was handling Reinsurance Department, specialty lines of Aviation, Marine Hull and Cargo, Oil & Energy, Miscellaneous, Motor and Liability till he was selected to head the UK branch of the Corporation in 2013. He has also handled the departments of Human Resource & Training, Re-Insurance Worldwide (RIWW), Health, Corporate Communications, CMDs Secretariat, Innovation Centre; Ministry & IRDAI matters prior to his elevation as CMD of GIC-Re.

Shri Devesh Srivastava

Non-Executive Director(Chairman)

Smt. Suchita Gupta is a Chairman cum Managing Director of National Insurance Co. Limited. She is a direct recruit officer of the 1987 batch and holds master’s degree in Commerce and a bachelor's degree in Law from University of Mumbai. She is a Fellow Member of the Insurance Institute of India (III) and the Institute of Company Secretaries of India (ICSI). Prior to her elevation as CMD of National Insurance Co. Ltd., she was serving as General Manager & Company Secretary & Chief Financial Officer of the GIC Re and during her services in GIC-Re she has handled the Finance, Life Re & Health, CMD & Board Secretariat, Coordination, Compliance, Investment (Mid & Back Office) departments of the GIC-Re.

Smt. Suchita Gupta

Non-Executive Director