Rashtrawar takes over from Warendra Sinha who has retired after three years of holding the top position.
Rashtrawar joined IFFCO Tokio General Insurance as a whole-time director in June 2018. She spearheaded the company's business transformation project and expanded operations in tier two, three and four towns.
"IFFCO Tokio is well-positioned to take on the emerging challenges in the insurance industry in India as it has the best team and excellent business partners and loyal clients," she said in a statement.
Rashtrawar has over three decades of experience and has served in both public and private sector general insurance compes. She is a post-graduate in English from Kolkata University, a fellow of the Insurance Institute of India, a chartered property casualty underwriter from US-based The Institutes and is also a Chevening scholar.
IFFCO-Tokio General Insurance Company is a 51:49 joint venture between Indian Farmers Fertiliser Cooperative (IFFCO) and Tokio Marine Group, the largest listed insurance group in Japan.
( With inputs from ANI )