17 January 2017Insurance

Novae appoints Reeken Patel as new CFO

Specialist Lloyd's insurer Novae Group has appointed Reeken Patel as its executive director and group chief financial officer (CFO).

Patel joined the company in July 2014 as chief risk officer, where he led the risk and actuarial functions, and has been acting as interim CFO since November last year. He has over 16 years of experience in the industry.

Prior to joining Novae, he was a partner in the general insurance division of PricewaterhouseCoopers and their London Market Actuarial leader.

Matthew Fosh, group chief executive, said: "Reeken has an outstanding track record as a member of the executive team and we are delighted to be appointing him to the position of chief financial officer and as an executive director of Novae Group."

John Hastings-Bass, chairman, added: "Reeken's recent experience as interim chief financial officer, and his previous role as the company's chief risk officer, together with his prior experience as a partner at PricewaterhouseCoopers, provides an ideal skill set to support the delivery of our strategy."

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More on this story

Insurance
18 September 2018   Tokio Marine Kiln (TMK) has appointed Reeken Patel as chief financial officer (CFO), replacing James Dover who is leaving the business after 12 years in the position.
Insurance
26 April 2018   As part of AXIS Capital’s transformation initiative to strengthen its operating model, the firm expects to deliver an additional run-rate cost savings of $40 million over the previously announced $60 million related to the integration of Novae, the company said while presenting the first quarter 2018 results.
Insurance
27 March 2018   Bermuda-based AXIS was hit hard by natural catastrophes 2017 but CEO Albert Benchimol believes that the financial impact of the year’s challenges on the company do not explain the 23 percent drop in the firm’s share price and suggested that it was further exacerbated by questions relating to the Novae acquisition.

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