The Financial Services Institutions Bureau (FSIB) has recommended Sanjay Joshi for the position of Chairman-cum-Managing Director (CMD) at Oriental Insurance Company Limited (OICL). The position had been vacant since the retirement of R.R. Singh, a direct recruit officer from the 1987 batch, in February 2025. To fill the gap, the government had appointed Executive Director Amit Misra as the acting CMD for a three-month period starting March 1, 2025.
Sanjay Joshi is currently serving as General Manager at United India Insurance Company, where he has worked for over 30 years. He is a direct recruit officer from the 1989 batch and has held various roles, including branch and divisional head, across multiple regional offices. Joshi has also been part of the Large Corporate Cell (LCC) in Delhi and has served as Deputy General Manager at the company’s head office. Additionally, he has held the position of Chief Grievance Officer.
Joshi’s educational background includes a postgraduate degree in Environmental Sciences and a postgraduate diploma in Marketing Management. He is also a Fellow Member of the Insurance Institute of India, demonstrating his expertise and commitment to the insurance industry. With his extensive experience and qualifications, Joshi is well-suited to take on the role of CMD at OICL.
The recommendation of Joshi by the FSIB is a significant development, as it indicates that the government is looking to bring in a seasoned professional to lead OICL. The company is one of the largest public sector general insurance companies in India, and the appointment of a new CMD is crucial for its future growth and development. Joshi’s experience and expertise in the general insurance sector make him an ideal candidate for the role, and his appointment is likely to be welcomed by the industry.
Overall, the recommendation of Sanjay Joshi as the new CMD of OICL is a positive development for the company and the insurance industry as a whole. With his extensive experience and qualifications, Joshi is well-placed to lead OICL and drive its growth and development in the future. The appointment is subject to formal approval, but it is likely to be finalized soon, marking a new chapter for the company.