The Financial Services Institutions Bureau (FSIB) has recommended Sanjay Joshi, a seasoned officer from the 1989 batch, for the post of Chairman-cum-Managing Director (CMD) of the Oriental Insurance Company Limited (OICL). This decision comes after the retirement of R.R. Singh in February 2025. Joshi is currently serving as General Manager at United India Insurance Company and has over 30 years of experience in the general insurance sector.
The recommendation of Sanjay Joshi as CMD of OICL marks a crucial leadership transition in one of India’s major public sector general insurance companies. This move follows a temporary appointment of Amit Misra as acting CMD, who was appointed for a three-month term starting March 1, 2025. The CMD post became vacant after R.R. Singh, a 1987 batch officer, retired in February 2025.
Sanjay Joshi has a strong background in the insurance sector, having held various positions such as Branch and Divisional Head, Deputy General Manager, Chief Grievance Officer, and Member of the Large Corporate Cell (LCC), Delhi. He holds a postgraduate degree in Environmental Sciences, a postgraduate diploma in Marketing Management, and is a Fellow Member of the Insurance Institute of India.
The FSIB is the recommending authority for leadership appointments in public sector financial institutions, ensuring merit-based and transparent selections for CMD and Director-level roles. The recommendation of Sanjay Joshi is significant, as it comes at a time when OICL is navigating sectoral changes and policy reforms. With his extensive experience and qualifications, Joshi is well-positioned to lead the company forward and address the challenges facing the insurance sector.
The appointment of Sanjay Joshi as CMD of OICL is expected to bring stability and continuity to the company, which is one of India’s four major public sector general insurance companies. The move is also seen as a positive development for the insurance sector, as it demonstrates the government’s commitment to appointing experienced and qualified leaders to key positions. Overall, the recommendation of Sanjay Joshi as CMD of OICL is a significant development that is expected to have a positive impact on the company and the insurance sector as a whole.