Mumbai: Devesh Srivastava has been elevated to the position of Chairman and Managing Director at General Insurance Corporation of India (GIC Re).
So far, he was managing the departments of human resource and training, ReInsurance Worldwide (RIWW), corporate communications, CMD’s secretariat and innovation centre.
Srivastava began his career with Oriental Insurance Company Ltd at Indore. In 1999, he was transferred to the GIC Re.
A direct recruit officer of the 1987 batch and a post-graduate in physics from St Stephen’s College in Delhi, Srivastava obtained a post-graduate degree in management, majoring in marketing with a gold medal from the Management Development Institute (MDI) Gurgaon in 2008.
At the head office in Mumbai, he was posted in the reinsurance department managing the speciality lines of aviation, marine hull and cargo, oil and energy, and motor liability till he was selected to head the UK branch in 2013.
GIC is the largest reinsurance company in India in terms of gross premiums accepted in FY17, accounting for about 60 per cent of the premiums ceded by Indian insurers to reinsurers.
It provides reinsurance across many key business lines including fire (property), marine, motor, engineering, agriculture, aviation/space, health, liability, credit and financial and life insurance.