August 2, 2025 — eBharat.com Business Desk
In a major leadership update for India’s insurance sector, EDME Insurance Brokers Ltd. has announced the appointment of Nitin Firke as its new Managing Director – Reinsurance. With this move, EDME aims to significantly strengthen its capabilities in the fast-evolving reinsurance space — both in India and globally.
Firke will lead all reinsurance operations from Mumbai, and is expected to play a key role in shaping the company’s strategy for innovation, client servicing, and international alliances.
About EDME Insurance Brokers
EDME is one of India’s rising insurance intermediaries, providing retail and commercial insurance services across sectors including health, motor, marine, liability, and crop. With reinsurance becoming increasingly complex due to climate events, pandemic-related claims, and capital market shifts, EDME is now expanding its backend strength in risk advisory — starting with this leadership move.
Who Is Nitin Firke?
Nitin Firke brings nearly three decades of experience across banking, insurance, and reinsurance — making him a strong strategic hire. His résumé includes:
- Chief of Reinsurance at Mahindra Insurance Brokers, where he developed global treaty programs.
- Senior Vice President at ICICI Lombard, managing large corporate portfolios.
- ICICI Bank (UAE) leadership experience, giving him international exposure to capital markets and risk management.
In total, he’s spent over 22 years working on both direct insurance and reinsurance placements, across India, the Gulf region, and global markets.
EDME’s CEO on the Appointment
Sanjay Radhakrishnan, CEO of EDME Insurance Brokers, commented on the move:
“Nitin’s depth of domain knowledge, leadership style, and global perspective make him the ideal leader for our reinsurance vertical. His presence will help EDME strengthen client relationships, deliver smarter risk transfer solutions, and drive long-term growth.”
He also added that the company is looking to invest further in reinsurance analytics, product structuring, and regional outreach, all of which Firke will spearhead.
Why Reinsurance Matters — And Why Now
Reinsurance is essentially insurance for insurers. It allows companies to protect themselves from large, catastrophic claims like floods, earthquakes, or pandemics. With India seeing more climate-related disruptions and high-value industrial risks, reinsurance is becoming a core pillar of insurance strategy.
Brokers like EDME play a critical role in structuring reinsurance treaties, connecting Indian insurers with global reinsurance giants like Swiss Re, Munich Re, and Lloyd’s syndicates.
In this context, Firke’s role becomes vital — as EDME gears up to support clients with parametric products, facultative placements, and structured treaty solutions.
Summary of the Appointment
| Detail | Information |
|---|---|
| New Role | Managing Director – Reinsurance |
| Organization | EDME Insurance Brokers Ltd. |
| Industry Experience | 27 years total; 22 in reinsurance |
| Past Roles | Mahindra Insurance Brokers, ICICI Lombard, ICICI Bank UAE |
| Base Location | Mumbai, India |
| Focus Area | Reinsurance strategy, client servicing, international risk placement |
As India’s insurance sector modernizes and globalizes, brokers like EDME are stepping up — not just as intermediaries, but as strategic advisors in managing complex risks.
With Nitin Firke at the helm of reinsurance, EDME is expected to push deeper into analytics-driven advisory, global treaty building, and tailored reinsurance programs — helping Indian insurers and corporates get the protection they truly need.
This appointment reflects a bigger shift in Indian insurance — from traditional selling to strategic risk solutions.
