General Insurance Corporation of India has informed the Exchange regarding Change in Director(s) of the company.
GICRE · price
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GIC Re has informed the exchanges about a change on its Board of Directors. The Central Government, through the Ministry of Finance, has appointed Shri Ashwani Kumar as a Non-Executive Director on the Board of the Corporation, replacing Smt. A. Manimekhalai with effect from 30th July 2025. Shri Ashwani Kumar is currently the MD & CEO of UCO Bank and his appointment is for a period of three years, or till the end of his tenure as MD & CEO of UCO Bank, whichever is earlier. He is a Chartered Accountant with over two decades of banking experience across multiple public sector banks including Bank of Baroda, PNB, Indian Bank, and others, and has previously served as Chief Finance Officer of a bank.
This is a routine government-driven Board-level change with no material impact on the company's operations or financials. The incoming director brings strong banking and finance expertise, which is aligned with GIC Re's business, while the exit of the previous nominee does not signal any governance concerns.