General Insurance Corporation of India (GIC Re) has appointed Ramaswamy Narayanan as Chairman and Managing Director, effective October 1.
He will replace Devesh Srivastava, whose four-year term ended at the close of September 2023 as he attained the age of 60 years.
The appointment comes after the Financial Services Institution Bureau (FSIB) recommended Narayanan as the head of GIC Re in June 2023, following which his position was approved by the Finance Ministry.
Narayanan joined GIC Re has a direct recruit officer in 1988 and has since managed a spectrum of non-life insurance classes, including Fire, Engineering, Miscellaneous, Motor, Liability, Aviation, Marine, and Agriculture.
Previously, he has also headed GIC Re’s UK branch, wherein he played a key role in the establishment of the Lloyds syndicate of GIC (GIC 1947).