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FSIB Recommends Sanjay Joshi as Chairman and Managing Director of Oriental Insurance Company Limited (OICL).

Appointment | Dated: 08 May 2025

In May 2025, the Financial Services Institutions Bureau (FSIB), operating under the Department of Financial Services (DFS), Ministry of Finance (MoF), recommended Sanjay Joshi, a 1989-batch officer, for appointment as the Chairman-cum-Managing Director (CMD) of Oriental Insurance Company Limited (OICL), headquartered in New Delhi, Delhi.

🎯 Key Highlights:

  • - This recommendation comes after the retirement of R.R. Singh in February 2025. Following his retirement, Amit Misra, the Executive Director (ED) of OICL, was appointed as acting CMD for a three-month period starting March 1, 2025.
  • - The appointment of Sanjay Joshi as CMD is now subject to approval by the Appointments Committee of the Cabinet (ACC), chaired by Prime Minister Narendra Modi. If confirmed, he will serve as CMD until August 31, 2027, when he attains the age of 60.

💡 Other Important Facts:

  • (i) Sanjay Joshi is currently serving as General Manager (GM) at United India Insurance Company Limited (UIICL), based in Chennai, Tamil Nadu (TN).
  • (ii) He brings over 30 years of experience in the general insurance sector, having held roles such as Branch and Divisional Head in various regional offices, and a key role in the Large Corporate Cell (LCC) in Delhi.
  • (iii) At the Head Office of UIICL, he has served as Deputy General Manager (DGM) and Chief Grievance Officer (CGO), contributing significantly to product development and regulatory compliance.

📚 Test Your Knowledge:

Who has been recently recommended by FSIB as the Chairman and Managing Director (CMD) of Oriental Insurance Company Limited (OICL)?

Correct Answer: Sanjay Joshi

🚀 Quick Recap: