GIC Re Appoints Rajesh Laheri as CFO; V. Balkrishna Steps Down
Rajesh Laheri appointed as Chief Financial Officer (CFO) of GIC Re, effective June 18, 2026. V. Balkrishna ceases to be CFO on the same date but continues as General Manager. Laheri has extensive experience in finance and accounting within GIC Re since 1998.
A change in CFO can have a medium-term impact on financial reporting, strategy execution, and investor relations, although the continuity of Mr. Balkrishna in a senior role and the extensive experience of Mr. Laheri mitigate potential disruption.
The announcement details a routine change in a key management position, with the outgoing CFO transitioning to a different role and the incoming CFO having relevant experience. The sentiment is neutral as it reflects a standard corporate procedure.
General Insurance Corporation of India (GIC Re) has announced a change in its Key Managerial Personnel. Mr. Rajesh Laheri has taken charge as the Chief Financial Officer (CFO) and Key Managerial Personnel of the Corporation, effective from 18th June 2026.
Concurrently, Mr. V. Balkrishna has ceased to be the CFO and Key Managerial Personnel from the same date. However, Mr. Balkrishna will continue to be a part of the Senior Management in his capacity as General Manager of the Corporation.
Mr. Rajesh Laheri joined GIC Re in April 1998. He is an Associate Member of the Institute of Chartered Accountants of India, holds a Final Pass from the Institute of Company Secretaries of India and the Institute of Cost and Works Accountants of India, and is a Fellow Member of the Insurance Institute of India. He has experience in various functions including Preparation of Final Accounts and Property Reinsurance within GIC Re. He also served in GIC Re's London branch for six years, handling Finance, IT, and other functions. Currently, he is in charge of the General Accounts and Taxation Department.
Mr. V. Balkrishna resigned from his position as CFO due to availing voluntary retirement under the Corporation's Voluntary Retirement Scheme (VRS) for personal reasons. He expressed gratitude to the Board for the opportunity to serve as CFO and stated that he is exiting the post when the financial performance of the Corporation is at its best in its 55-year history.
What to do with a filing like this
General Insurance Corporation of India filed this with the NSE as a statutory disclosure, categorised under key management changes. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by General Insurance Corporation of India. Read the original for the full detail.