Rakesh Jain, Director - Corporate Centre and CFO of ICICI Lombard General Insurance, the countrys largest private sector General Insurance Company was conferred with the Best CFO award in the Financial Services sector by the Institute of Chartered Accountants (ICAI), Indias premier accounting and auditing body.
These awards are instituted to recognize and honour the achievements of fellow Chartered Accountants in professional, personal and community services.
Nominations for the Best CFO in Financial Services were received from organisations across the financial services sector including banks, NBFCs, Financial Institutions and Mutual Funds. CFOs were evaluated by an esteemed jury on parameters like professional contribution, domain knowledge, work experience and personal qualities.
Jain is a Chartered Accountant and a Cost Accountant with rich and varied experience of over 17 years in corporate finance management. He was pivotal in setting up ICICI Lombard GIC, and as a part of the core team and played a critical role in interacting with regulatory authorities and facilitating registration of ICICI Lombard in 2001.
As Director- Corporate Centre and CFO, he oversees the functions of Finance & Accounts, Corporate underwriting, Reinsurance, legal, fraud control, HR and Administration and also drives the Financial Inclusion Solutions Group (FISG).
During Jains tenure, ICICI Lombard received iAAA rating from ICRA (an associate of Moodys Investors Service) for the fourth consecutive year. The rating reaffirms ICICI Lombards highest claims paying ability and indicates ICICI Lombards fundamentally strong position and best prospects of meeting policy holders obligations in the general insurance space.
Speaking on this occasion, Rakesh Jain, Director- Corporate Centre and CFO, ICICI Lombard General Insurance, said I am extremely delighted to receive the award for the best CFO from a prestigious professional body as ICAI. We believe this recognition is a result of ICICI Lombards sustained effort at setting industry benchmarks for financial services practices and processes.
As the general insurance industry evolves in India we believe that strong financials and superior service quality will be a key differentiator among insurers.