General Insurance Corporation of India has informed the Exchange regarding Proceedings of Annual General Meeting held on September 23, 2025
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GIC Re held its 53rd AGM on September 23, 2025 at 3:00 PM via video conferencing, chaired by CMD Shri Ramaswamy Narayanan. The meeting confirmed clean audit reports — there were no qualifications in the Statutory Auditors' Report or the Secretarial Audit Report for FY25, and the Comptroller and Auditor General of India (C&AG) issued NIL comments. Shareholders approved all 9 resolutions, including a dividend of ₹10 per equity share for FY 2024-25 and the adoption of audited standalone and consolidated financial statements. The board also got shareholder approval to appoint new directors — Shri Manoj Muttathil Ayyappan and Shri Tapan Kumar Mondal as Government Nominee Directors, Ms. Jayashri Balkrishna as Executive Director, and Shri Ashwani Kumar (MD & CEO, UCO Bank) as Non-Executive Director. M/s. Ragini Chokshi & Co. was appointed as Secretarial Auditors for a five-year term. The Chairman's address covered performance highlights, geopolitical risks, regulatory developments, and future outlook, and the meeting concluded at 4:11 PM.
A confirmed ₹10 per share dividend and clean audit reports (including C&AG NIL comments) are positive signals for shareholders, reinforcing confidence in governance and payout consistency. Multiple board appointments indicate continued government stewardship with no disruption to operations.