POWERFUL WOMEN
7
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Alice Vaidyan,
Chairman and managing director, General Insurance Corporationage: 58
The first woman to head India’s only reinsurance company, Vaidyan successfully managed an initial public offering that makes GIC the second-most valuable public sector financial company. The Rs 11,500 crore IPO values the company at Rs 80,000 crore. She takes charge at a time when foreign reinsurers are being allowed in but that does not seem to faze her. She says the abysmal penetration numbers—0.8% for non-life insurance and 3.5% for life—mean that there is a big enough market for all.
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