The Chairman and Managing Director of General Insurance Corporation of India, Alice Vaidyan has been listed in Fortune magazine’s ’50 most powerful businesswomen 2018’ list. She is ranked at 47 and is the only entry from India.
It is for the 18th year that Fortune has ranked the most powerful businesswomen outside the US. The 50 selected come from 19 countries and represent a variety of industries. Heading the list at number one position is Emma Walmsley chief executive of Glaxosmithkline.
59 year old Vaidyan took over as the head of the country’s only reinsurer in 2016. Under her stewardship GIC’s global ranking has gone up to the top 10 global reinsurance firms. The company had reported a net income of $501.6 million on revenue of $6.8 billion in fiscal 2018. Vaidyan also oversaw the company’s initial public offering which was also the third largest ever public float. The company has a market cap of over USD 8 billion.
Vaidyan who hails from Kerala, has pushed GIC to expand aggressively overseas. Currently the company operates in 160 countries. She has been in the industry for 30 years and has a Masters degree in English literature and also holds a diploma from the Harvard Business School, Boston.