Mrs Alice G Vaidyan, Chairman-cum-Managing Director of India’s national reinsurer, GIC Re, has been conferred the Business Today “Most Powerful Women in Indian Business” Award 2016 by Union Minister for Textiles, Mrs Smriti Zubin Irani, in a glittering ceremony held in Mumbai in September.
She was one of 30 women recognised in the Business Today Awards series launched in 2003 to honour 30 powerful women who have helped redefine their field of expertise with their outstanding contribution.
The first woman to be appointed as Chairman of GIC Re, Mrs Vaidyan, says no “glass ceiling” exists for women who dare but there are no short cuts to success. She was appointed to the post last January.
Speaking to Asia Insurance Review at the awards ceremony, she said: “You have to work hard to arrive at your chosen destination and be recognised.”
Won several national and international awards
Mrs Vaidyan belongs to the 1983 batch of direct recruit officers of the Indian general insurance industry and began her career with New India Assurance Company, the country’s biggest government-owned general insurer.
A post graduate in English literature and a Fellow of the Insurance Institute of India, Mrs Vaidyan has also trained at the Harvard Business School. She has won several national and international awards including the “Woman in Insurance Award” in 2014.
With her at the top of the C-suite, GIC Re, which achieved a record growth of 21.4% in global premiums to US$2.77 billion for the 2015-16 fiscal year, is all set to achieve many more milestones.
The winners of the “30 Most Powerful Women in Indian Business” Award for 2016 were chosen by a panel comprising of S Ramadorai, Advisor to the Prime Minister, National Council on Skill Development; Zia Mody, Founder AZB & Partners; Vishwavir Ahuja, MD & CEO RBL Bank; noted business historian Gita Piramal; Richard Rekhy, CEO of KPMG India; and ace advertising executive Ambika Srivastava.