GIC Re Appoints M/s SHBA & CO LLP and M/s SARA & Associates as Joint Statutory Auditors for FY27
GIC Re appointed M/s SHBA & CO LLP and M/s SARA & Associates as Joint Statutory Auditors for FY 2026-27. The C&AG advised their appointment on September 8, 2026. Both firms have extensive experience in audit and financial services and hold ICAI peer review certificates.
The appointment of statutory auditors is a routine compliance requirement for listed companies and typically does not have a significant direct impact on the company's operations or financial performance.
The announcement pertains to the routine appointment of statutory auditors, which is a standard corporate compliance activity and does not inherently carry a positive or negative financial implication.
General Insurance Corporation of India (GIC Re) has announced the appointment of joint statutory auditors for the Financial Year 2026-27. The Board of Directors, through a circular resolution effected on October 1, 2026, noted and approved the appointment and remuneration of these auditors. The Comptroller and Auditor General of India (C&AG) had advised the appointment of these statutory auditors via letters dated September 8, 2026.
The appointed Joint Statutory Auditors are M/s SHBA & CO LLP and M/s SARA & Associates. Both firms have been appointed for the tenure of FY 2026-2027.
M/s SHBA & CO LLP, established in 1987, is a professional services firm with a pan-India presence and 10 partners. They offer services in Statutory Audit, Limited Reviews, Special Purpose Audit, Internal Audit, Tax Audit, Transfer Pricing Audit, and certifications. The firm holds a peer review certificate from the Institute of Chartered Accountants of India (ICAI).
M/s SARA & Associates is a partnership firm providing various professional services. It is a Category-I Professional Firm of Practicing Chartered Accountants as per ICAI classification, with expertise in Statutory Audits, Internal and System Audits, Bank Audits, PSU Audits, Income Tax, International Tax, Transfer Pricing, GST, VAT, Corporate Law, Valuation, Mergers and Acquisitions, among others. This firm also holds a Peer Review Certificate from the ICAI.
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General Insurance Corporation of India filed this with the NSE as a statutory disclosure, categorised under auditor changes. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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