The Ministry of Finance has appointed Shri Ashwani Kumar, the Managing Director and CEO of UCO Bank, as a Non-executive director on the Board of GIC of India . This strategic move, effective from July 30, 2025, marks a significant addition to GIC of India's leadership team.

Appointment Details

Kumar's appointment is set for a three-year term or until the conclusion of his tenure at UCO Bank, whichever comes first. He steps into the role previously held by Smt. A. Manimekhalai on the board of GIC of India, India's largest reinsurer in the domestic market.

Professional Background

Ashwani Kumar brings a wealth of experience to his new role:

• Qualifications: A Chartered Accountant with a Post Graduate degree in Commerce
• Banking Experience: Over two decades in the banking sector
• Previous Roles: Served in multiple public sector banks including Bank of Baroda, Corporation Bank, Oriental Bank of Commerce, Punjab National Bank, and Indian Bank
• Prior Position: Executive Director of Indian Bank before joining UCO Bank as MD & CEO

Expertise and Responsibilities

Kumar's extensive background includes:

• Leadership in Wholesale Banking Division
• Management of Industrial Finance and Large Corporate Branches
• Heading Mid Corporate and Large Corporate verticals as General Manager
• Experience as a Zonal Manager and Chief Finance Officer (CFO)

Educational Pursuits

Demonstrating a commitment to continuous learning, Kumar has:

• Attended various training programs at premier institutes in India and abroad, including IIM and CAFRAL
• Completed the Leadership Development Programme at IIM Bangalore, curated by the Banks Board Bureau in collaboration with IBA and Egon Zehnder International Pvt. Ltd.

Impact on GIC of India

This appointment comes at a crucial time for GIC of India, which recently announced its plans to disclose Q1 FY26 results on August 7, 2025, followed by an earnings call on August 8, 2025. As a key player in the reinsurance sector, GIC of India's strategic decisions and board composition are closely watched by industry observers.

The addition of Ashwani Kumar to the board is expected to bring fresh perspectives and valuable insights from the banking sector to GIC of India's operations and strategic planning.

GIC of India , India's largest reinsurance company, has announced its plans to discuss its Q1FY26 financial results in an upcoming earnings call. The company, which commands approximately 51% of premiums ceded by Indian insurers to reinsurers during FY24, is set to reveal its quarterly performance to analysts and investors.

Key Details of the Earnings Call

• Results Announcement Date: August 7, 2025
• Earnings Call Date: August 8, 2025
• Time: 11:00 AM to 12:00 PM IST
• Primary Contact Numbers: +91 22 6280 1107 / +91 22 7115 8008

GIC of India has also provided international toll-free numbers for participants from the USA, UK, Singapore, and Hong Kong, facilitating global investor participation. A pre-registration facility with DiamondPass™ is available for those wishing to avoid queues and save time.

Management Representation

The earnings call will be led by Mr. Ramaswamy N, Chairman and Managing Director of GIC of India, along with other top management members. This presents an opportunity for stakeholders to gain insights directly from the company's leadership.

About GIC of India

GIC of India, incorporated in 1972, has established itself as a cornerstone of India's reinsurance market. The company offers a diverse range of reinsurance services across multiple business lines, including:

• Fire (property)
• Marine
• Motor
• Engineering
• Agriculture
• Aviation/Space
• Health
• Liability
• Credit and financial insurance
• Life insurance

With its headquarters in Mumbai and strategic presence through branch offices in London and Kuala Lumpur, GIC of India has expanded its global footprint. The company also operates subsidiaries in the United Kingdom (a member of Lloyd's of London), South Africa, and Russia. Notably, GIC of India's Lloyd's syndicate has been operational since April 2018, marking its entry into one of the world's most renowned insurance markets.

GIC of India's commitment to providing robust reinsurance products and services over the past five decades has solidified its position as a trusted brand both in India and overseas. The company's financial strength is underscored by its "A-" (Excellent) rating from AM Best, a testament to its stability and reliability in the reinsurance sector.

As GIC of India prepares to share its Q1FY26 results, the upcoming earnings call will likely provide valuable insights into the company's performance and strategic direction in the evolving global reinsurance landscape.