Alice Vaidyan new CMD of GIC Re

Vaidyan to hold the office of the national reinsurer till July 2019; she is also the first chairperson in the Indian insurance industry

Alice Vaidyan has been appointed as the chairman and managing director of the General  Insurance Corporation of India (GIC Re).  She would hold the office till July 31, 2019.

She is the first woman to be appointed in such post not only in the GIC Re, but the first in the Indian insurance sector. The GIC Re is the 14th largest reinsurer globally and is the only reinsurance company in India.

Vaidyan belongs to 1983 batch of the direct recruit officers of general insurance industry and has been the general manager and chief financial officer of the GIC Re from October 2012.

The firm, in a statement, said it would now have to play a responsible and mature role in developing the reinsurance market in India in collaboration and cooperation with new entities.

Vaidyan began her career with New India Assurance Company in 1983. She moved to GIC Re in 2008 as deputy general manager (reinsurance). She is also a director on the Board of GIC Bhutan Re Ltd., a joint venture reinsurance firm established by GIC Re in Bhutan. Vaidyan would also be the chairman of GIC South Africa Re Ltd, Kenindia Insurance Company Limited, Kenya and GIC Housing Finance Company.