FSIB Recommends Sanjay Joshi as CMD of Oriental Insurance

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, with Joshi currently serving as General Manager at United India Insurance Company.

Why in News?

Sanjay Joshi’s recommendation 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 and comes at a time when OICL is navigating sectoral changes and policy reforms.

Background

• Oriental Insurance Company Limited (OICL) is one of India’s four major public sector general insurance companies.
• The CMD post became vacant after R.R. Singh, a 1987 batch officer, retired in February 2025.
• Amit Misra was appointed as acting CMD for a three-month term starting March 1, 2025.

About Sanjay Joshi

• Current Role: General Manager at United India Insurance Company.
• Batch: 1989 Direct Recruit Officer.
• Experience: Over 30 years in the general insurance sector.

Past Positions

• Branch & Divisional Head in various regions.
• Deputy General Manager at Head Office.
• Chief Grievance Officer.
• Member of the Large Corporate Cell (LCC), Delhi.

Qualifications

• Postgraduate degree in Environmental Sciences.
• Postgraduate diploma in Marketing Management.
• Fellow Member of the Insurance Institute of India.

Role of FSIB

• FSIB is the recommending authority for leadership appointments in public sector financial institutions.
• It ensures merit-based, transparent selections for CMD and Director-level roles.