General Insurance Corporation of India has appointed M/s S H B A & Co LLP and M/s S A R A & Associates as its joint statutory auditors for the financial year 2026-27. The appointment was noted and the remuneration approved by the Board of Directors via a circular resolution on October 1, 2026.

The move follows advice from the Comptroller and Auditor General of India (C&AG), who advised the appointment vide a letter dated September 8, 2026. This disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.

Auditor profiles and tenure

Both firms have been appointed for a tenure covering FY27. The details of the new appointees are outlined below:

Regulatory compliance and governance

The appointment aligns with SEBI Master Circular no. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, which mandates specific disclosures regarding auditor appointments. The Corporation’s Company Secretary and Compliance Officer, Satheesh Kumar, signed off on the intimation to both the BSE and the National Stock Exchange.

What the numbers show

The selection of two distinct firms highlights a dual-auditor structure often employed for large public sector entities to ensure comprehensive coverage across different domains of financial scrutiny. M/s S H B A & Co LLP brings a long-standing history since 1987 with a broad geographic footprint, while M/s S A R A & Associates is classified as a Category-I firm with specialized expertise in complex areas such as international tax and restructuring. This combination suggests a focus on both routine statutory compliance and specialized financial advisory needs within the audit scope.

General Insurance Corporation of India shareholders approved a final dividend of ₹13.25 per equity share for FY26, with 99.89% of votes cast in favour during the 54th Annual General Meeting (AGM). The meeting, held on September 22, 2026, saw all seven proposed resolutions pass with requisite majorities.

The proceedings were conducted via Video Conferencing (VC) and Other Audio-Visual Means (OAVM), chaired by Hitesh Joshi, Chairman and Managing Director. The scrutinizer’s report, filed on September 24, 2026, detailed the voting outcomes for the adoption of financial statements, dividend declaration, and key board appointments.

Voting results on key resolutions

The dividend resolution received overwhelming support, with only 0.11% of votes cast against it. Similarly, the adoption of audited financial statements passed with 98.76% in favour. Below is a summary of the voting results for the primary resolutions:

Governance and leadership updates

The AGM formalized significant leadership changes. Hitesh Rameshchandra Joshi was appointed as Chairman-cum-Managing Director, receiving 99.62% support from shareholders. Dr. Debasish Prusty was appointed as a Government Nominee Director, while Hiteshkumar Kismatbhai Bhandari was appointed as an Independent Director.

Jayashri Balkrishna, who retired by rotation, was re-appointed following her eligibility to offer herself for re-election. This resolution garnered 97.59% support, reflecting slight dissent compared to other governance items but still securing a clear majority.

Meeting proceedings and participation

The statutory auditors’ report and secretarial audit report for the year ended March 31, 2026, contained no qualifications. Members raised queries regarding performance, shareholder returns, and CSR activities, which were addressed by the Chairman before the meeting concluded at 12:47 pm.

Voting rights were reckoned based on holdings as of September 15, 2026. Remote e-voting remained open from September 17 to September 21, 2026. The results were hosted on the Corporation’s website and the NSDL e-voting platform.