Reeken Patel was previously chief financial officer at Novae

Tokio Marine Kiln has announced the appointment of Reeken Patel as its new chief financial officer.

He takes over from James Dover who has left after 12 years at TMK and eight years as its CFO.

Patel, previously worked for AXIS Capital Holdings and formerly Novae Group. 

He will start at TMK on 1 October and his appointment is subject to regulatory approval.

Patel was group chief financial officer at Novae, responsible for overseeing the finance, risk, actuarial and investment teams. He played a significant role in Novae’s strategic development, ultimately overseeing the sale of the business to AXIS.

Before Novae, Patel was a partner at PwC and its London market actuarial practice leader.

“Outstanding” background

Charles Franks, Tokio Marine Group chief executive, said he was pleased to welcome Patel to the team.

He added: “His background and outstanding track record speak for themselves and he will bring a new perspective and energy to the development of our business. 

“Tokio Marine has developed a powerful international presence over the past 10 years and Reeken will be key to ensuring we continue to advance our strategy within the TM Group.”

But Franks was full of praise for the departing Dover.

He said: “James leaves us after 12 transformative years during which his skills, insight and drive have played an important role in broadening the scope of the business globally.

“He has my and the board’s personal thanks for his many lasting achievements. We wish him every success in his future.” 

And Patel added: “I am genuinely excited to be joining TMK.

“It’s one of the major businesses in the London market and has created a solid platform for growth. I look forward to playing my part in building the business further over the coming years.”