Mumbai, June 18, 2026: General Insurance Corporation of India (GIC Re) has appointed Rajesh Laheri as its new Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), effective June 18, 2026. The appointment comes after the resignation of V. Balkrishna, who stepped down from the position after opting for the Corporation’s Voluntary Retirement Scheme (VRS) due to personal reasons.
While relinquishing his responsibilities as CFO, V. Balkrishna will continue to serve the organization as General Manager and remain a part of GIC Re’s senior management team.
Experienced Finance Professional Takes Charge
Rajesh Laheri brings nearly three decades of experience in the insurance and reinsurance industry. He joined GIC Re in 1998 as a Direct Recruit Officer and has since held several important positions across the Corporation’s finance and reinsurance operations.
Before being appointed CFO, Laheri headed the General Accounts and Taxation Department, where he was responsible for overseeing the Corporation’s accounting, financial reporting, taxation, and regulatory compliance functions.
Strong Academic and Professional Credentials
A qualified Chartered Accountant (CA), Rajesh Laheri possesses an extensive professional background in financial management and corporate governance. He is also associated with several prestigious professional institutions, including:
- The Institute of Company Secretaries of India (ICSI)
- The Institute of Cost and Works Accountants of India (ICWAI)
- The Insurance Institute of India (III), where he is a Fellow Member
These qualifications reflect his broad expertise in finance, corporate governance, cost management, and the insurance sector.
International Experience Strengthens Leadership
In addition to his domestic responsibilities, Laheri has served at GIC Re’s London Branch, where he managed finance and information technology (IT) functions. His international exposure has provided him with valuable experience in global financial operations and reinsurance practices, making him well-positioned to lead the Corporation’s financial strategy.
V. Balkrishna Steps Down After Distinguished Tenure
In his resignation letter, V. Balkrishna stated that his decision to step down as CFO was based on personal reasons. He expressed gratitude to the Board of Directors for the trust and confidence placed in him during his tenure as Chief Financial Officer.
He also noted that he was leaving the position at a time when GIC Re was delivering the strongest financial performance in its 55-year history, highlighting the Corporation’s significant growth and financial strength during his leadership.
Leadership Transition at a Key Time
The appointment of Rajesh Laheri comes at an important stage for GIC Re, as the Corporation continues to strengthen its position in both the domestic and international reinsurance markets. With his extensive experience, strong financial expertise, and global exposure, Laheri is expected to play a key role in driving financial excellence, strategic growth, and long-term value creation for the organization.