Shams Patel has been promoted to the post of chief pricing actuary at SiriusPoint Ltd, the Bermudian-based global specialty insurer and reinsurer.

Mr Patel joined SiriusPoint in 2008 and most recently held the position of head of pricing and business planning in the UK.

As chief pricing actuary, he will lead pricing strategy across SiriusPoint’s global re/insurance platform, working in partnership with global and regional underwriting teams to establish pricing that aligns with the company’s risk and profitability thresholds.

Mr Patel will continue to be based in London, with a dual reporting line to David Govrin, global chief underwriting officer, and Justin Brenden, chief actuary.

Mr Govrin said: “We are delighted to make this promotion to our global underwriting and actuarial leadership team. With strong industry experience and professional credentials, Shams is a consummate team player and thought leader.

“He has consistently demonstrated an unwavering commitment to excellence as we continue to differentiate ourselves in the marketplace and position our business for sustainable underwriting profitability.”

Mr Brenden added: “Shams has already proven himself to be a valuable member of the team. As chief pricing actuary, he will be instrumental in enhancing SiriusPoint’s approach to pricing and catastrophe modelling and delivering on the business’s commitment to disciplined risk management by architecting consistent global standards. I am very pleased to welcome him to the role.”

Mr Patel is a Fellow of the Faculty and Institute of Actuaries, holds a postgraduate diploma in actuarial science from Bayes Business School (previously Cass Business School) and a BSc in mathematics and computer science from King’s College London.

Mr Govrin added: “Shams’ appointment speaks to the depth of talent at SiriusPoint and the priority we place on an entrepreneurial culture that is conducive to the growth and development of our team members.”