General Insurance Corporation of India has informed the Exchange regarding Cessation of Ms A. Manimekhalai as Independent Director of the Corporation w.e.f. Jun 03, 2025.
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General Insurance Corporation of India (GIC Re) has informed the exchanges that Ms. A. Manimekhalai has ceased to be a Director on its board with effect from June 3, 2025. She was originally appointed by the Central Government (via a Ministry of Finance letter dated September 2, 2022) to GIC Re's board in her capacity as MD & CEO of Union Bank of India. Her tenure on GIC Re's board was linked to her role at Union Bank, for three years, until superannuation, or until further orders. She completed her tenure as MD & CEO of Union Bank of India on June 2, 2025, which automatically ended her directorship at GIC Re. The company has recorded its appreciation for her contributions during her tenure.
This is a routine, expected board change triggered by the end of her role at Union Bank of India and is unlikely to have any material impact on GIC Re's operations or stock price. Investors should note one board vacancy now exists pending any government nomination.