gic of india has announced a significant change in its senior management structure with the permanent appointment of a new Chief Vigilance Officer. The company disclosed this development to stock exchanges in compliance with SEBI Listing Regulations, marking an important governance milestone for the state-owned reinsurer.

Permanent CVO Appointment Confirmed

The Central Vigilance Commission (CVC) has approved the permanent transfer of Shri Uday Laxmandas Devi from Oriental Insurance Corporation Limited (OICL) to serve as Chief Vigilance Officer of GIC Re. The Ministry of Finance communicated this decision through letter No. 15/1/2023-Vig dated 30th January 2026, making the appointment effective immediately.

Background of Temporary Assignment

This permanent appointment follows an earlier temporary arrangement that began on 29th December 2025. Shri Devi had been assigned additional charge as CVO of GIC Re while continuing his role at OICL, pending the CVC's decision on the transfer request. The temporary assignment was initially set for three months or until the CVC conveyed their decision, whichever came first.

The company had previously communicated this temporary arrangement to stock exchanges through reference letter GIC-HO/BOARD/SE-SMP-03/302/2025-26 dated 2nd January 2026, ensuring full transparency with stakeholders throughout the transition process.

Regulatory Compliance and Disclosure

GIC Re made this disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, which mandates listed companies to inform exchanges about material changes in senior management. The announcement specifically references compliance with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11th November 2024.

Company Secretary & Compliance Officer Satheesh Kumar Nair signed the official communication to BSE Limited and The National Stock Exchange of India Ltd., ensuring proper regulatory adherence for this senior management change.

Significance for Corporate Governance

The appointment of a permanent Chief Vigilance Officer represents an important step in strengthening GIC Re's governance framework. As a government-owned reinsurance company, maintaining robust vigilance mechanisms is crucial for operational integrity and regulatory compliance. The CVO position plays a vital role in ensuring transparency and preventing corruption within the organization's operations and decision-making processes.

gic of india has announced the renewal of a key leadership position, extending the tenure of its Appointed Actuary for another year. The company disclosed this appointment renewal in compliance with regulatory requirements to both major stock exchanges.

Appointment Renewal Details

The company has renewed the appointment of Shri Sateesh Bhat as Appointed Actuary (Non-Life) and Key Managerial Personnel for a period of one year with effect from January 20, 2026. The announcement was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.

Professional Background

Shri Sateesh N Bhat brings substantial expertise to his role with comprehensive educational qualifications and extensive industry experience. He holds a B.Tech degree in Electrical and Electronics from Mahatma Gandhi University, Kerala, and is a fellow member of the Institute of Actuaries of India with specialization in General Insurance.

Previous Role

Prior to joining GIC Re, Shri Bhat served as Vice President, Actuarial at Raheja QBE General Insurance Company Ltd, Mumbai. His diverse background spans multiple sectors, providing him with a comprehensive understanding of both technical and actuarial domains.

Regulatory Compliance

The disclosure was made in compliance with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The announcement was communicated to both BSE Limited and The National Stock Exchange of India Ltd, ensuring full transparency with all stakeholders.

This renewal reflects the company's confidence in Shri Bhat's actuarial expertise and his contribution to the organization's risk assessment and insurance operations. His continued leadership in the actuarial function will support the company's strategic objectives in the general insurance sector.