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.

GIC of India has announced a key senior management appointment, naming Shri Uday Laxmandas Devi as Chief Vigilance Officer (CVO) effective December 29, 2025. The appointment was communicated to stock exchanges on January 2, 2026, in compliance with regulatory disclosure requirements.

Appointment Details

The Ministry of Finance, through letter No. 15/1/2023-Vig dated January 1, 2026, conveyed the Department of Financial Services' decision to assign additional charge of the CVO position to Shri Uday Laxmandas Devi. This appointment is in addition to his current role as CVO at Oriental Insurance Corporation Limited.

Professional Background

Shri Uday Laxmandas Devi brings extensive experience to his new role at General Insurance Corporation of India. He holds a Bachelor of Commerce (Honours) degree and has earned professional certifications including CMA from the Institute of Cost Accountants of India and CAIIB from the Indian Institute of Banking and Finance.

Regulatory Compliance

The disclosure was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, specifically relating to changes in senior management. The announcement references compliance with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

The temporary nature of this appointment reflects the transitional arrangement pending the Central Vigilance Commission's decision on the transfer request of the CVO from Oriental Insurance Corporation Limited. This ensures continuity in the vigilance function while maintaining regulatory compliance requirements for both organizations.