Mumbai: General Insurance Corporation of India (GIC Re) has appointed Rajesh Laheri as its new Chief Financial Officer (CFO) and Key Managerial Personnel, effective June 18, 2026. The appointment comes following the resignation of V. Balkrishna, who stepped down after opting for voluntary retirement under the company’s Voluntary Retirement Scheme (VRS).
According to the company’s regulatory filing, the transition has been disclosed under SEBI Listing Obligations and Disclosure Requirements (LODR) regulations.
Leadership Transition at GIC Re
V. Balkrishna resigned from the CFO position citing personal reasons and voluntary retirement. In his resignation letter dated April 20, 2026, he expressed gratitude to the Board for the opportunity to serve and stated that he would continue during the transition period.
Despite stepping down as CFO, he will continue to serve as General Manager and remain part of the senior management team of the corporation.
The company confirmed that the leadership change is part of a planned transition process ensuring continuity in financial operations.
Who is Rajesh Laheri?
The newly appointed CFO, Rajesh Laheri, has been associated with GIC Re since 1998, when he joined as a direct recruit officer. He brings nearly three decades of experience in finance and reinsurance operations.
Currently, he headed the General Accounts and Taxation Department prior to his elevation as CFO.
He is a qualified Chartered Accountant and an Associate Member of the Institute of Company Secretaries of India and the Institute of Cost and Works Accountants of India. He is also a Fellow Member of the Insurance Institute of India.
Laheri has also worked at GIC Re’s London branch for six years, where he handled finance and IT operations.
Experience Strengthens Financial Leadership
With extensive experience across domestic and international operations, Laheri is expected to strengthen GIC Re’s financial governance and operational efficiency.
His appointment is seen as a continuation of internal leadership development within the organization, ensuring stability in senior financial management.
Regulatory Disclosure and Compliance
The appointment and resignation were formally communicated to stock exchanges under SEBI regulations. The company also submitted detailed disclosures, including annexures of the resignation letter and appointment details, as part of compliance requirements.
Continuity in Senior Management
Even after stepping down as CFO, V. Balkrishna will continue contributing to the organization as General Manager. The company emphasized that his continued presence in senior management will support smooth operational continuity during the transition phase.
About GIC Re
General Insurance Corporation of India (GIC Re) is India’s leading reinsurance company and a key player in the global reinsurance market. Established over five decades ago, the corporation provides reinsurance solutions to insurance companies in India and abroad, supporting risk management across multiple sectors including property, casualty, agriculture, and health insurance.
Read also: Rare Earth Independence: How MIDHANI Plans to Secure India’s Strategic Material Future
