Ramaswamy N appointed as new CMD of GIC Re

New Delhi/Mumbai: General Insurance Corporation of India (GIC) on Thursday announced the appointment of Ramaswamy N as its new Chairman and Managing Director (CMD). He has been appointed to the post with effective from October 1, 2023. This appointment follows the decision by the Ministry of Finance.

Ramaswamy, a distinguished veteran in the insurance industry, brings with him a rich and diverse experience of over three decades at GIC Re. His journey within the organisation has been marked by remarkable achievements and a profound impact on various aspects of the reinsurance sector.

Narayanan began his journey with GIC Re in 1988 as a direct recruit officer. Over the years, he has exhibited unwavering commitment and dedication to the organisation. With his profound knowledge and expertise, Ramaswamy has taken on the responsibility of managing a wide spectrum of non-life insurance classes, including Fire, Engineering, Miscellaneous, Motor, Liability, Aviation, Marine, and Agriculture. His leadership has extended across numerous territories worldwide.

In the ever-evolving landscape of the Indian insurance market, Ramaswamy has risen to the occasion by addressing complex challenges within the non-tariffed portfolio. His ability to provide creative and practical solutions to clients has been instrumental in both safeguarding portfolios and delivering capital relief.

Ramaswamy's leadership capabilities were further highlighted during his tenure as CEO of GIC Re, UK. During this time, he successfully managed the operations of the UK branch, played a pivotal role in the establishment of the Lloyds syndicate of GIC (GIC 1947), and contributed significantly to the Corporate Member of GIC.

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