Appointed CMD of GIC Re
Alice Vaidyan has been appointed chairperson and managing director of General Insurance Corporation of India (GIC Re), the national reinsurer.
She is the first woman to be appointed chairman in the history of the country's insurance industry.
told PTI that she
will assume charge on January 25.
is the 14th largest reinsurer globally and is the only reinsurance company in the country.
Vaidyan belongs to 1983 batch of direct recruit officers of general insurance industry and has been general manager and chief financial officer of GIC Re since October 2012.
As CMD of GIC Re, Vaidyan would be the chairperson of GIC South Africa Re, Kenindia Insurance Company, Kenya, and GIC Housing Finance Company.
will hold office until July 31, 2019.
would have to play a responsible and mature role in developing the reinsurance market in the country with collaboration and cooperation of the new entities, a company statement said.
A post-graduate in English literature and a fellow of the Insurance Institute of India
has won several national and international awards.
moved to GIC Re
in 2008 as a deputy general manager (reinsurance).
Vaidyan is also a director on the board of GIC Bhutan Re, a JV reinsurance company established by GIC Re in Bhutan.