Specialist insurance firm Novae has appointed Reeken Patel as the long-term successor of Charles Fry, who left the company last year.
 
Patel joined the insurer in July 2014 as chief risk officer, in which he led its risk and actuarial functions. He has been acting as interim CFO since November 1.
 
Novae Group chief executive Matthew Fosh said Patel will also be appointed as an executive director.
 
“Reeken has an outstanding track record as a member of the executive team,” Fosh said.
 
Patel is a qualified actuary with over 16 years of industry experience. Before joining Novae, he was a partner and London market actuarial leader in the general insurance division of PwC.
 
“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,” said Novae chairman John Hastings-Bass.
 
Fry left Novae in October 31 after serving on its board for more than three years.
 
In a previous statement, Fosh said Fry “played an important part in the significant transition in our business and has had a major role in many of our recent strategic initiatives.”
 
 
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